Invitation to comment on the 2nd draft of the Asset Valuation Guidelines for Privately Owned DUs subject to Performance - Based Regulations

Notice is hereby given that the Second Draft of the Asset Valuation Guidelines for Privately Owned Distribution Utilities subject to Performance Based Regulations (Draft Guidelines) is currently posted on the ERC website for comments.

All interested parties may submit their last round of comments (in both hard and soft copies) on the Draft Guidelines not later than June 23, 2006. Electronic copies may be sent to tariffsrates@erc.gov.ph. The Draft Guidelines may be photocopied, at cost, during the regular office hours at ERC Main Office, Pacific Center Building, San Miguel Avenue, Pasig City or may be downloaded from the ERC website at www.erc.gov.ph.

ERC 2nd Draft Asset Valuation Guide for Privately Owned DUs under PBR

June 16, 2006

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