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DEPARTMENT CIRCULAR NO. DC 2013- 0b -00] oF

ADOPTING FURTHER AMENDMENTS TO THE WESM RULES
(Definition of “Financial Year” in the WESM Rules)

WHEREAS, Section 37 of the Electric Power Industry Reform Act provides that the DOE, jointly
with the electric power industry participants, shall establish the Wholesale Electricity Spot
Market and formulate the detailed rules governing the operations thereof;

WHEREAS, any changes, amendments, and modifications to the WESM Rules shall be
undertaken in accordance with the provisions of Chapter 8 thereof;

WHEREAS, on 27 February 2013, the Philippine Electricity Market Corporation (PEMC)
submitted its proposed amendment in the definition of “Financial Year” in the Wholesale
Electricity Spot Market (WESM) Rules to the Rules Change Committee (RCC) for consideration
and approval;

WHEREAS, the proposed revision aims to redefine the “Financial Year” in order to align the
deadline for the preparation and submission of reports specified in the WESM Rules with the
actual period of reporting relative to PEMC’s financial statements and budgets;

WHEREAS, on 06 March 2013, the RCC thoroughly discussed the proposed amendment in its
- 72n4 RCC Meeting and agreed to published the proposal in the WESM website to solicit
comments from participants and other interested parties;

WHEREAS, on 03 April 2013, the RCC in its 73¢ Meeting approved the proposed amendment
for endorsement to the PEM Board after due evaluation and deliberation pursuant to the
requirements of the WESM Rules;

WHEREAS, on 30 April 2013, after discussion, the PEM Board has resolved to approve for
endorsement to the DOE the above stated amendment to the WESM Rules;

WHEREAS, on 06 April 2013, the above stated amendment was endorsed to the DOE for
approval, consistent with Chapter 8 of the WESM Rules;

NOW THEREFORE, pursuant to its authority under the WESM Rules, the DOE hereby issues,
adopts and promulgates the following amendment to the WESM Rules:

Energy Center, Rizal Drive., Fort Bonifacio, Taguig City, Metro Manila, Philippines
Trunkline: 479-2900
Website: www.doe.gov.ph E-mail: info@doe.gov.ph

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Section 1. Amendment to the WESM Rules. Definition of Financial Year under Chapter 11
Glossary is amended to read -

XXX XXX XXX

Financial Year. A period referring to calendar year that commences on January 1 and
ends on December 31 of the same year.

XXX XXX XXX

Section 2. Separability Clause. If for any reason, any section or provision of this Circular is
declared unconstitutional or invalid, such parts not affected shall remain in full force and effect.

Section 3. Effectivity. This Circular shall take into effect immediately following its publication

in at least two (2) newspapers of general circulation and shall remain in effect until otherwise
revoked.

Issued this at DOE, Energy Center, Rizal Drive, Bonifacio Global City, Taguig City.

CARKQS JERICHO L. PETILLA

Secretary

Ri blic of the Philippines
DEPARTMENT OF ENERGY

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