Invitation to comment on the possible changes to the WESM by the adoption of a Cost-Based Market and a Day Ahead Ex-Ante Bidding for the WESM

Notice is hereby given that the options to adopt a Cost-Based Market and a Day-Ahead Ex-Ante Bidding for the WESM is scheduled for a public consultation on 27 October 2005 at nine o’clock in the morning (9:00AM) at the ERC Hearing Room, 15th Floor Pacific Center Building, San Miguel Avenue, Ortigas Complex, Pasig City.

All interested parties may submit their comments (both hard and soft copies) on the paper prepared on the subject matter on or before 15 October 2005. Only parties who have filed their written comments on or before the prescribed period would be allowed to participate in the above scheduled public consultation. The said paper may be photocopied, at cost, during the regular office hours at the ERC Main Office at the above-mentioned address or may be downloaded from the ERC Website at www.erc.gov.ph.

Rationale for Cost-Based Short-Term Market and Day-Ahead Forward Market for the Wholesale Electricity Spot Market (WESM)

September 22 , 2005

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