This is to AMEND Sections 1 and 2 of Articles III and IV of the GUIDELINES FOR THE AUTOMATIC ADJUSTMENT OF GENERATION RATES AND SYSTEM LOSS RATES BY DISTRIBUTION UTILITIES ("Guidelines") approved on 13 October 2004 which read as follows:


"ARTICLE III
MONTHLY ADJUSTMENT OF THE GENERATION RATE

SECTION 1. Adjustment Formula - On the tenth (10) day of each calendar month, Distribution Utilities shall calculate new Generation Rates based on the following formula:

xxx                        xxx                   xxx

SECTION 2. Billing of New Generation Rate - The Distribution Utilities shall bill their customers the Generation Rates calculated in accordance with the immediately preceding Section effective on the tenth (10) day of each month."


"ARTICLE IV
MONTHLY ADJUSTMENT OF THE SYSTEM LOSS RATE

SECTION 1. Adjustment Formula - On the tenth (10) day of each calendar month, Distribution Utilities shall calculate new System Loss Rates based on the following formula:

xxx                        xxx                   xxx

SECTION 2. Billing of System Loss Rate - The Distribution Utilities shall bill their customers on the tenth (10) day of each month the System Loss Rates calculated in accordance with the immediately preceding Section."

The Commission, after due deliberation, RESOLVED, as it hereby RESOLVES, to amend the above-quoted portion of the Guidelines, to now read as follows:


"ARTICLE III
MONTHLY ADJUSTMENT OF THE GENERATION RATE

SECTION 1. Adjustment Formula - On or before the tenth (10) day of each calendar month, Distribution Utilities shall calculate new Generation Rates based on the following formula:

xxx                        xxx                   xxx

SECTION 2. Billing of New Generation Rate - The Distribution Utilities shall bill their customers the Generation Rates calculated in accordance with the immediately preceding Section effective on or before the tenth (10) day of each month."


"ARTICLE IV
MONTHLY ADJUSTMENT OF THE SYSTEM LOSS RATE

SECTION 1. Adjustment Formula - On or before the tenth (10) day of each calendar month, Distribution Utilities shall calculate new System Loss Rates based on the following formula:

xxx                        xxx                   xxx

SECTION 2. Billing of System Loss Rate - The Distribution Utilities shall bill their customers on or before the tenth (10) day of each month the System Loss Rates calculated in accordance with the immediately preceding Section."

This Resolution shall take effect on the eighth (8th) day following its publication in two (2) daily newspapers of general circulation in the Philippines.

Adopted: 20 Oct. 2004


(SGD.) JESUS N. ALCORDO
Commissioner

(SGD.) OLIVER B. BUTALID
Commissioner

(SGD.) RAUF A. TAN
Commissioner

(SGD.) ALEJANDRO Z. BARIN
Commissioner