WHEREAS, Sections 2 (b) and (c) of Republic Act No. 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA) declare that it is the policy of the State to ensure the quality, reliability, security and affordability of the supply of electric power, and to ensure the transparent and reasonable prices of electricity in a regime of free and fair competition and full accountability to achieve greater operational and economic efficiency and enhance the competitiveness of Philippine products in the global market;