To sustain progress achieved under the Power Sector Restructuring Program,1 the Government of the Republic of the Philippines requested the Asian Development Bank (ADB) to provide advisory technical assistance (TA) to strengthen the institutional capacity of the newly established Energy Regulatory Commission (ERC) and facilitate the privatization of National Power Corporation (NPC). A Fact-Finding Mission that was conducted from 18 August to 21 September 2004 reached an understanding with the Government on the TA objectives,scope, cost estimates, financing, and implementation arrangements.2
