WHEREAS, on 06 May 2010, after various public consultations and meetings with the relevant government agencies and stakeholders in the electric power industry, the Department of Energy (DOE) issued Circular No. 2010-05-0006, entitled œTerminating the Default Wholesale Supplier Arrangement for the Philippine Wholesale Electricity Spot Market (WESM) and Declaring a Disconnection Policy ;

WHEREAS, the said DOE Circular was published on 12 May 2010 in two newspapers of general circulation and became effective last 27 May 2010;

WHEREAS, the said DOE Circular states that a disconnection policy shall be enforced within ninety (90) days from the effectivity of the DOE Circular for non-WESM members in areas where Wholesale Electricity Spot Market (WESM) is operational, while prescribing other grounds for disconnection of persons or entities pursuant to the overall intent of the EPIRA;

WHEREAS, the same DOE Circular provides that the DOE shall issue the guidelines for the disconnection of persons or entities who fail to comply with the DOE Circular ;

WHEREAS, pursuant to the mandate of the DOE under Section 37(p) of the EPIRA to formulate rules and regulations as may be necessary to implement the objectives of the EPIRA and the WESM Rules, the DOE, in coordination with the National Grid Corporation of the Philippines (NGCP), National Transmission Corporation (TransCo), National Power Corporation (NPC), Power Sector Assets and Liabilities Management Corporation (PSALM), National Electrification Administration (NEA), and Philippine Electricity Market Corporation (PEMC), crafted these implementing rules and procedures to implement DOE Circular DC No. 2010-05-0006;

NOW, THEREFORE, premises considered, the DOE hereby adopts the following implementing rules and procedures for the disconnection of persons or entities who fail to comply with the DOE Circular No. DC2010-05-0006, entitled œTerminating the Default Wholesale Supplier Arrangement for the Philippine Wholesale Electricity Spot Market (WESM) and Declaring a Disconnection Policy. 

Section 1. Introduction.

1.1 Rationale

The DOE is mandated under the EPIRA to, among others, ensure the reliability, quality and supply of electric power and ensure transparent and reasonable prices of electricity in a regime of free and fair competition and full public accountability to achieve greater operational and economic efficiency. Likewise, the DOE is mandated to develop policies and procedures and, as appropriate, promote a system of energy development incentives to enable and encourage electric power industry participants to provide adequate capacity to meet demand including, among others, reserve requirements.

The DOE, after consultations with the different stakeholders in the industry, finds merit in the request of the National Power Corporation (NPC) and the Power Sector Assets and Liabilities Management (PSALM) Corporation to be relieved of their obligations as Default Wholesale Supplier (DWS) in view of the significant level of privatization of NPC generating assets as well as transfer or management and control of NPC ™s contracted energy outputs from its independent power producers.

Further, the DOE deems it necessary to establish a disconnection policy to ensure that all electric power industry participants comply with the EPIRA, its IRRs, and all other related rules and regulations with the end goal of encouraging new power generation investments in the country. The disconnection policy likewise intends to minimize if not avoid existing leakages in the electric power systems due to unauthorized withdrawal of electricity as well as unmetered and unbilled consumptions of facilities connected to the grid.

The membership of all the electric power industry participants especially the distribution utilities in the WESM will promote a level playing field in the industry.

1.2 Objectives

This implementing rules and procedures are issued with the following objectives:

A. To facilitate further development of market discipline with the end view of fostering competition in the power generation and supply businesses;

B. To establish the grounds, conditions or criteria including the processes and protocols as well as the relevant procedures for disconnecting/reconnecting a person or entity from/to the grid. Towards this end, it is envisioned that the electricity end-users/ customers comply with their financial obligations to their supply and service providers in a timely manner;

C. To establish the authority and responsibilities of each of the concerned person or entity under the EPIRA and the WESM Rules and other related rules and regulations;

D. To emphasize the need to register with the WESM and understand and comply with the WESM Rules;

E. To formulate the guidelines for the restructuring of outstanding financial obligations and arrearages with PSALM/NPC; and

Section 2. Definition of Terms.

2.1 œConnection Agreement  or œCA  refers to the agreement between a User and the NSP, which specifies the terms and conditions pertaining to the connection of the User System or Equipment to a new Connection Point in the Grid (or the Distribution System);

2.2 œDepartment of Energy  or œDOE  refers to the government agency created pursuant to Republic Act No. 7638 whose expanded functions are provided in the EPIRA;

2.3 œDirect WESM Member  refers to a person or an entity registered with the Market Operator as provided under Clause 2.3. of the WESM Rules;

2.4 œDistribution Code  refers to a compilation of rules and regulations governing electric utilities in the operation and maintenance of their distribution systems which includes, among others, the standards for service and performance, and defines and establishes the relationship of the distribution systems with the facilities or installations of the parties connected thereto;

2.5 œDistribution Utility  or œDU  refers to any EC, private corporation, government owned utility or existing local government unit which has an exclusive franchise to operate a distribution system in accordance with the EPIRA;

2.6 œEconomic Zones  or œEZs  refer to selected areas which are being developed into agro-industrial, industrial, tourist, recreational, commercial, banking, investment and financial centers. An EZ may refer to any of the following: Industrial Estates (IEs), Export Processing Zones (EPZs), Free Trade Zones (FTZs), Information Technology Parks and Tourist/Recreational Centers, such as those managed, administered, or operated by the Bases Conversion Development Authority (BCDA), Cagayan Economic Zone Authority (CEZA), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), Phividec Industrial Authority (PIA), and Zamboanga City Economic Zone Authority (ZCEZA);

2.7 œElectric Cooperative  or œEC  refers to a DU organized pursuant to Presidential Decree No. 269, as amended, Republic Act 6939, as amended or as otherwise provided in the EPIRA;

2.8 œElectric Power Customer  or œEPC  is a collective term which refers to any EC, Private DU, EZs, large and other customers directly connected to the grid purchasing electric power from the EPS, for the purpose of supplying the end-users ™ requirements within its franchise area or for its own use;

2.9 œElectric Power Service Provider  or œEPSP  is a collective term which refers to any service providers such as the SO, MSP, NSP and other service providers in the electric power industry;

2.10 œElectric Power Supplier  or œEPS  is a collective term which refers to any Generation Company, IPPA, WA and any person or entity engage in supplying and/or selling electric power;

2.11 œEnd-User  refers to any person or entity requiring the supply and delivery of electricity for its own use;

2.12. œEnergy Regulatory Commission  or œERC  refers to the regulatory agency created under the EPIRA;

2.13 œGeneration Company  refers to any person or entity authorized by the ERC to operate facilities used in the generation of electricity;

2.14 œGrid Code  refers to the set of rules and regulations governing the safe and reliable operation, maintenance and development of the high voltage backbone transmission system and its related facilities;

2.15 œImplementation Review Committee  or œIRC  refers to the committee tasked to formulate the implementing rules and regulations of DOE Circular No. DC2010-05-0006 and oversee its implementation;

2.16 œIndependent Power Producer  or œIPP  refers to an existing power generating entity which is not owned by NPC/PSALM;

2.17 œIndirect WESM Member  refers to a person or an entity who wishes to indirectly trade in the spot market through a Direct WESM member;

2.18 œIPP Administrator  or œIPPA  refers to qualified independent entities appointed by PSALM who shall administer, conserve and manage the contracted energy output of NPC IPPs, including the selling of the contracted energy output of these contracts and offering Ancillary Services, where applicable;

2.19 œMarket Operator  or œMO  refers on the entity, currently the Philippine Electricity Market Corporation (PEMC), responsible for the operation of the WESM governed by the Philippine Electricity Market (PEM) Board in accordance with Clause 1.4 of the WESM Rules;

2.20 œMetering Service Agreement  or œMSA  refers to the agreement that defines the responsibilities and obligations of the MSP and the Metered Entity in relation to the provision of metering facilities, equipment and service as provided under the OATS Rules, the Grid Code and the WESM Rules;

2.21 œMetering Service Provider  or œMSP  refers to a person or entity authorized by the ERC to provide metering services and registered with the MO in that capacity in accordance with the Clause 2.3.6 of the WESM Rules;

2.22 œNational Electrification Administration œ or œNEA  refers to the government agency created under Presidential Decree No. 269, as amended, and whose additional mandate is further set forth in the EPIRA;

2.23 œNational Grid Corporation of the Philippines  or œNGCP  refers to the corporation, by virtue of Republic Act No. 9511, granted a franchise to operate, manage and maintain, and in connection therewith, to engage in the business of conveying or transmitting electricity through high voltage back-bone system of interconnected transmission lines, substations and related facilities, systems operations, and other activities that are necessary to support the safe and reliable operation of a transmission system and to construct, install, finance, manage, improve, expand, operate, maintain, rehabilitate, repair and refurbish the nationwide transmission system of the Republic of the Philippines;

2.24 œNational Power Corporation  or œNPC  refers to the government corporation created under Republic Act No. 6395, as amended;

2.25 œNational Transmission Corporation  or œTransCo  refers to the corporation organized pursuant to the EPIRA;

2.2.6 œNetwork Service Provider  or œNSP  refers to a person who engages in the activity of owning, controlling, or operating a transmission or distribution system and who is registered with the MO in that capacity under Clause 2.3.4 of the WESM Rules;

2.27 œNotice of Disconnection  refers to a notice issued by any EPS, EPSP or the MO, as defined in this Implementing Rules and Procedures, informing any of its EPC of its impending disconnection from the grid or network in accordance with the provisions of its contracts and this Implementing Rules and Procedures;

2.28 œNotice of Reconnection  refers to a notice issued by any EPS, EPSP or the MO, as defined in this Implementing Rules and Procedures, addressed to NGCP or other NSPs, copy furnished the EPC, authorizing the reconnection of any of its EPC to the grid or network in accordance with the provisions of its contract with the EPC and this Implementing Rules and Procedures;

2.29 œOpen Access Transmission Services Rules  or œOATS Rules  refers to regulation that governs the implementation of the Open Access Transmission Services as approved by the ERC;

2.30 œPower Sector Assets and Liabilities Management Corporation  or œPSALM  refers to the corporation created pursuant to EPIRA Section 49;

2.31 œPower Supply Agreement  or œPSA  refers to the contract for the supply of electricity between the Generation Company, IPPA, WA, and the EPC. It may be in the form of Transition Supply Contract (TSC), Contract for the Supply of Electric Energy (CSEE) or bilateral contract;

2.32 œRestructuring Agreement  refers to a contract or agreement entered into by PSALM and EPC wherein the latter agrees to pay its arrearages to PSALM through monthly installments inclusive of interest pursuant to Section 3.2 of the DOE Circular No. 2010-05-0006 and in accordance with Section 4.1(D) of this Implementing Rules and Procedures;

2.33 œSystem Operator  or œSO  refers to the party responsible for generation dispatch, the provision of ancillary services, and operation and control to ensure safety, power quality, stability, reliability and security of the grid;

2.34 œTransmission Service Agreement  or œTSA  refers to the agreement entered into by the Transmission Provider and user of the facility that specifies the terms and conditions of the transmission service by the Transmission Provider and the availment of such service by the Transmission Customer; also serves as the Connection Agreement;

2.35 œWholesale Aggregator  or œWA  refers to a person or entity, engaged in consolidating electric power demand of the DUs and other EPCs, for the purpose of purchasing and reselling electricity on a group basis;

2.36 Wholesale Electricity Spot Market  or œWESM  refers to the electricity market established by the DOE in accordance with the EPIRA.

Section 3. Title and Scope.

3.1 Title.

This issuance shall be referred to as the œImplementing Rules and Procedures for DOE Circular No. DC2010-05-0006, entitled œTerminating the Default Wholesale Supplier Arrangement for the Philippine WESM and Declaring a Disconnection Policy. 

3.2 Termination of the Default Wholesale Supply Arrangement. The DWS Arrangement is hereby terminated upon the effectivity of this Implementing Rules and Procedures. PEMC, NPC, and PSALM are hereby directed to finalize all the settlement amounts involving the DWS Arrangement within 30 days after the effectivity of this Implementing Rules and Procedures.

3.3. Scope of Coverage. The following shall be governed by Implementing Rules and Procedures:

A. EPCs

1. ECs directly connected to the grid;
2. Private Investor-Owned Utilities (PIOUs) directly connected to the grid;
3. Large and Other Customers directly connected to the grid;
4. WAs; and
5. EZs.

B. EPS  

1. Generation Companies;
2. PSALM/NPC;
3. IPPAs; and
4. WAs;

C. EPSPs and MO

1. The MO, currently PEMC as the AGMO and Independent Market Operator (IMO) upon its appointment by the DOE
2. NGCP as the SO and MSP;
3. NSP other than the NGCP;
4. Other MSPs; and
5. Other electric power industry stakeholders given special arrangement by
the NSP other than the NGCP.

D. The Visayas and Mindanao stakeholders are exempted, in so far as WESM registration requirements are concerned. Furthermore, PSALM/NPC shall not issue any Notice of Disconnection within the ninety-(90) day transition period as prescribed in the DOE Circular No. DC2010-05-0006.

Section 4. Disconnection Process.

4.1. Grounds and Conditions for Disconnection.

The EPS, EPSP or the MO may issue a Notice of Disconnection to an EPC under any of the following circumstances:

A. MO

1. Failure of the EPC, EPS or EPSP to register in the WESM after the ninety-(90) day transition period in accordance with the registration process under the WESM Rules, the DOE Circular No. DC2010-05-0006 and other DOE issuances.

IPPs whose generating capacities are contracted with NPC are deemed WESM registered if its generating facilities are registered under any of the PSALM, NPC or the IPPA;

2. Suspension and deregistration as a WESM Member under the WESM Rules; and

3. In the case of the WA, suspension and deregistration from the WESM may result to the disconnection of its EPC.

All matters regarding the WESM Registration, Suspension and Deregistration shall be governed by the WESM Rules and Section 6 of this Implementing Rules and Procedures.

B. NGCP and NSPs Other than NGCP.

1. Failure of the EPS or EPC to comply with the required financial or technical obligations with the NGCP in accordance with their existing contracts, such as among others the TSA, CA, MSA, and the OATS Rules, Grid Code, and Distribution Code. The NGCP shall furnish the IRC and the MO a copy of the Notice of Disconnection or Notice of Reconnection issued to the EPS or EPC; and

2. In the case of NSPs other than NGCP, failure of the EPS or EPC to satisfy or settle their obligations under their existing contract with the NSP. Such NSP shall furnish the IRC and the MO a copy of the Notice of Disconnection or Notice of Reconnection issued to the EPS or EPC. 

C. Generation Companies, IPPA and WA.

1. As provided under their existing contracts, failure of the EPC to comply with the required financial and technical obligations to the Generation Company, IPPA or the WA; and

2. Termination/Expiration of the existing contract of an EPC that is an Indirect WESM Member EPC unless such EPC has secured a new supply contract with other Generation Company or has renewed its existing supply contract with the Generation Company or has successfully registered in the WESM as Direct Member.

D. PSALM and NPC

1. Failure of the EPC to secure and enter into a Restructuring Agreement within the required period in accordance with DOE Circular No. 2010-05-0006;

2. Failure of the EPC to comply with its financial obligations (including non-remittance of Universal Charge) with PSALM and NPC as provided under their PSAs or any existing contracts for the supply of electricity and Restructuring Agreement; and

3. Failure of the EPC to secure a Restructuring Agreement and/or fully settle its financial obligations with PSALM and NPC even such EPC is now being assumed and turned over to the NPC successor generation companies or has expired contracts with PSALM and NPC but still continue to draw power from the grid and are still being billed by PSALM and NPC.

For the above-cited EPC with outstanding financial obligations with PSALM and NPC, PSALM shall issue the Notice of Disconnection and shall submit a letter-request to NCGP for the execution of the Notice of Disconnection in accordance with Section 4 of this Implementing Rules and Procedures.

All matters regarding the Restructuring Agreement shall be governed by the PSALM ™s Restructuring Policy and Section 7 of this Implementing Rules and Procedures.

4.2 Procedures for and Execution of the Request to Disconnect a Person or Entity from the Grid.

The issuance of the Notice of Disconnection by the requesting party shall be the last resort option. Thus, it is encouraged that both the requesting party and the subject person or entity for disconnection have exhausted all remedies available.

The Notice of Disconnection and Letter-Request shall follow the formats provided under Appendix A^* and Appendix B^* hereof.

A. Any EPS or EPSP, as the requesting party, shall issue a Notice of Disconnection to the EPC and shall submit a letter-request to NGCP for the execution of the Notice of Disconnection in accordance with Section 4 of this Implementing Rules and Procedures.

B. The MO, as the requesting party, shall issue a Notice of Disconnection to the EPC, EPS or EPSP and shall submit a letter-request to NGCP for the execution of the Notice of Disconnection in accordance with Section 4 of this Implementing Rules and Procedures.

C. Prior to issuance of any Notice of Disconnection by the requesting party and the letter-request to NGCP for the execution of the Notice of Disconnection, the EPS, EPSP, or the MO, consistent with the provisions under their respective contracts with the subject person or entity proposed for disconnection, shall endeavor to consider and undertake the following:

1. The Notice of Disconnection is consistent with the DOE Circular No. DC2010-05-0006, the WESM Rules, the OATS Rules and this Implementing Rules and Procedures; and

2. The Notice of Disconnection is consistent with the existing agreements or valid contract with the EPC sought to be disconnected.

D. Within five (5) days after the receipt of the Notice of the Disconnection by the EPC and the letter-request for the execution of the Notice of Disconnection, the NGCP shall execute the said Notice of Disconnection and prepare a report to the requesting party and the IRC. The NGCP shall advise the requesting party and the EPC of the schedule of the disconnection. For this purpose, the requesting party shall provide NGCP a copy of the proof of receipt of the Notice of Disconnection immediately after the receipt of the Notice of Disconnection by the EPC.

In case the 5^th day falls on a Friday, weekends or a holiday, the disconnection shall be executed on the next working day.

E. The NGCP shall prepare a report, taking into consideration the impact of such disconnection in the power system.

In case the disconnection cannot be implemented by NGCP within the five (5) day period due to technical reasons, the NGCP shall advise the requesting party prior the end of the five (5) day period, the date on when it can affect the actual disconnection including the specific technical reason/s.

F. The EPS, EPSP or the MO issuing the Notice of Disconnection and the letter-request shall hold NGCP free and harmless from any kinds of suits that may arise or shall indemnify NGCP from any damages NGCP may have suffered in relation to the issuance of the Notice of Disconnection.

G. NGCP shall only implement the disconnection after all the procedures and mitigating measures have been exhausted and complied with. This Implementing Rules and Procedures is hereby declared to be a notice to all electric power industry stakeholders of NGCP ™s authority to undertake disconnection pursuant to their respective contracts and to this Implementing Rules and Procedures.

4.3 Remedial Actions to Stay or Defer the Disconnection.

A. Conditions and Pre-requisites.

The implementation of the disconnection may be deferred if any of the following conditions are present:

1. Settlement/payment of the outstanding amount due and demanded, consistent with the existing agreements or valid contracts with the EPS, EPSP or the MO within five (5) days prior to the scheduled disconnection date. The requesting party shall immediately inform NGCP of the settlement/payment of the outstanding amount due and demanded by the EPC using the pro-forma Request for Disconnection Recall in Appendix C^* of this Implementing Rules and Procedures prior to the scheduled disconnection date in order for the NGCP to defer the execution of such disconnection.

2. In the case of PSALM/NPC customers, execution of a Restructuring Agreement within five (5) days prior to the scheduled disconnection date. PSALM/NPC, as the requesting party shall immediately inform NGCP of the execution of a Restructuring Agreement with the EPC using the pro-forma Request for Disconnection Recall in Appendix C prior to the scheduled disconnection date in order for the NGCP to defer the execution of such disconnection;

3. Recalled Notice of Disconnection by the requesting person or entity as a result of a Special Payment Agreement entered into by the contracting parties five (5) days prior to the scheduled disconnection date. The requesting party shall immediately inform NGCP of the recall using the pro-forma Request for Disconnection Recall in Appendix C prior to the scheduled disconnection date in order for the NGCP to defer the execution of such disconnection;

4. Proof of non-receipt of the Notice of Disconnection. In such case, the execution of the Notice of Disconnection may be deferred for up to five (5) days from the actual receipt of the Notice of Disconnection; and

5. In the case of the MO, the subject person or entity have successfully registered with the WESM pursuant to Section 2.2.4.2 of the WESM Rules. The MO, as the requesting party shall immediately inform NGCP of the registration of such person or entity to the WESM using the pro-forma Request for Disconnection Recall in Appendix C prior to the scheduled disconnection date in order for the NGCP to defer the execution of such disconnection.

6. Private entities may also enter into a Restructuring Agreement, subject to their existing agreements or valid contracts.

Section 5. Reconnection Process.

5.1. Conditions and Requirements for Reconnection.

Reconnection may be effected if such disconnected person or entity has complied with any of the following:

A. MO

1. Registration with the WESM in accordance with the registration processes under the WESM Rules;

2. The suspension and deregistration of a WESM Member has been lifted in accordance with the WESM Rules;

3. The suspension and deregistration of the WESM Registered Supplier/ Aggregator has been lifted in accordance with the WESM Rules, will constitute a reconnection of its customer.

B. NGCP and NSPs other than the NGCP.

1. Upon full payment of the amount due and demanded from the concerned disconnected person or entity to NGCP;

2. If the disconnected person or entity has remedied its non-compliance, with the service contracts such as the TSA, CA, MSA; and the OATS Rules, Grid Code, and Distribution Code in a manner acceptable to the NGCP.

C. Generation Company, IPPA and WA.

1. Upon full payment of the amount due to and demanded by the Generation Company, IPPA or the WA;

2. If such disconnected customer has secured a new supply contract or a renewal of the existing supply contract or has registered with the WESM as Direct Member.

D. PSALM and NPC. 

1. If such disconnected customer has secured a Restructuring Agreement in accordance with PSALM ™s Restructuring Policy and Section 6 of this Implementing Rules and Procedures; and

2. Upon full payment of the amount demanded by PSALM and NPC as provided under their existing contracts and Restructuring Agreement.

In all instances, reconnection of electric service shall be in accordance with the existing agreements between the Generation Companies and their buyers or off-takers and shall be subject to payment of the Reconnection Fee to NGCP and/or Other NSPs by the EPC prior to reconnection.

5.2 Request for Reconnection.

A. Any EPS, EPSP or MO requesting for a reconnection of person or entity shall submit its Notice of Reconnection and a letter-request to NGCP and IRC for the execution of the Request for Reconnection in Appendix D^* .

B. Within two (2) days after the receipt of the Notice of Reconnection, the NGCP shall execute the Notice of Reconnection and prepare a report to the requesting party and the IRC.

C. The NGCP shall prepare a report, taking into consideration the impact of such reconnection in the power system.

In case the reconnection cannot be implemented by NGCP within the two (2) day period due to technical reasons, the NGCP shall advise the requesting party prior the end of the two (2) day period, the date on when it can affect the actual reconnection including the specific technical reason/s. Towards this end, the EPS, EPSP or the MO issuing the Notice of Reconnection shall hold NGCP free and harmless from any kinds of suits that may arise or shall indemnify NGCP from any damages NGCP may have suffered in relation to the issuance of the Notice of Reconnection.

In the case of the disconnected entity which disconnection was issued by multiple requesting parties, the reconnection will only be executed when all the requesting parties have issued a letter-request and Notice of Reconnection.

D. In all instances, a reconnection fee shall be paid by the disconnected EPC to NGCP or other NSPs prior to reconnection.

Section 6. WESM Registration, Suspension and Deregistration Guidelines.

All matters regarding the WESM Registration, Suspension and Deregistration in Section 4.1(A) of this Implementing Rules and Procedures shall be governed by the WESM Rules and the WESM Registration, Suspension, and Deregistration Guidelines.

Appendix E^* of this Implementing Rules and Procedures details the provisions for WESM Registration, Suspension and Deregistration.

Section 7. Guidelines in Implementing the Restructuring of Outstanding Financial Obligations and Arrearages with PSALM and NPC.

All matters relating to the implementation of the restructuring of outstanding financial obligations and arrearages between PSALM and the EPCs under Section 4.1(D) of this Implementing Rules and Procedures shall be governed by the PSALM ™s Restructuring Policy and the Guidelines in the Formulation of the Restructuring Plan.

Appendix F^* of this Implementing Rules and Procedures details the procedures and guidelines for negotiations and entering into a Restructuring Agreement with PSALM..

Section 8. Separability Clause. If for any reason, any section or provision of this Implementing Rules and Procedures is declared unconstitutional or invalid, the other parts or provisions hereof which are not affected thereby shall continue to be in full force and effect.

Section 9. Effectivity and Publication. This Implementing Rules and Procedures shall be effective fifteen (15) days from its publication in a newspaper of general circulation. The PEMC is hereby directed to publish this Implementing Rules and Procedures in the market information website.

This Implementing Rules and Procedures shall remain in effect until otherwise revoked.

(SGD.) JOSE RENE D. ALMENDRAS
  Secretary