ANGELES ELECTRIC COMPANY

ANTIQUE ELECTRIC COOPERATIVE, INC.

BATANGAS I ELECTRIC COOPERATIVE INC.

BATANGAS II ELECTRIC COOPERATIVE INC.

CAGAYAN 1 ELECTRIC COOPERATIVE INC

CAGAYAN ELECTRIC POWER AND LIGHT COMPANY, INC.

CAGAYAN2 ELECTRIC COOP. INC.

CAMARINES SUR II ELECTRIC COOPERATIVE

CAMARINES SUR III ELECTRIC COOPERATIVE INC

CEBU II ELECTRIC COOPERATIVE INC (CEBECO II)

CEBU III ELECTRIC COOPERATIVE INC (CEBECO III)

CENTRAL PANGASINAN ELECTRIC COOPERATIVE INC

COTABATO ELECTRIC COOPERATIVE, INC.

COTABATO LIGHT

DAGUPAN ELECTRIC CORPORATION

DAVAO DEL SUR I ELECTRIC COORPERATIVE, INC.

DAVAO LIGHT & POWER CORPORATION

FIRST BAY POWER CORP.(FBPC)

FIRST LAGUNA ELECTRIC COOPERATIVE INC.

ILIGAN LIGHT

Ilocos Sur Electric Cooperative, Inc.

ILOILO 1 ELECTRIC COOPERATIVE, INC

ILOILO 2 ELECTRIC COOPERATIVE, INC

ILOILO I ELECTRIC COOPERATIVE INC.

ISABELA 1 ELECTRIC COOPERATIVE INC.

LA UNION ELECTRIC COOPERATIVE INC

LEYTE V ELECTRIC COOPERATIVE, INC. (LEYECO V)

LIMA ENERZONE CORPORATION

MACTAN ELECTRIC COMPANY, INC.

MERALCO - CMS

MISAMIS ORIENTAL-1 RURAL ELECTRIC SERVICE COOP

NEGROS OCCIDENTAL ELECTRIC COOPERATIVE

NUEVA ECIJA 1 ELECTRIC COOPERATIVE, INC.

NUEVA ECIJA II ELECTRIC COOPERATIVE AREA 1

NUEVA ECIJA II ELECTRIC COOPERATIVE AREA 2

NUEVA VIZCAYA ELECTRIC COOPERATIVE

OLONGAPO ELECTRICITY DISTRIBUTION COMPANY INC.

PAMPANGA I ELECTRIC COOPERATIVE INC.

PAMPANGA II ELECTRIC COOPERATIVE INC.

PAMPANGA III ELECTRIC COOPERATIVE INC.

PAMPANGA RURAL ELECTRIC COOPERATIVE INC.

PANAY ELECTRIC COMPANY

PANGASINAN I ELECTRIC COOPERATIVE, INC

PANGASINAN III ELECTRIC COOPERATIVE INC.

PENINSULA ELECTRIC COOPERATIVE INC.

QUEZON I ELECTRIC COOPERATIVE, INC.

QUEZON II ELECTRIC COOPERATIVE, INC.

SAN FERNANDO LIGHT AND POWER COMPANY

SAN JOSE CITY ELECTRIC COOPERATIVE

SORSOGON II ELECTRIC COOPERATIVE, INC

SOUTHERN LEYTE ELECTRIC COOPERATIVE

SUBIC ENERZONE CORPORATION

SURIGAO DEL SUR I ELECTRIC COORPERATIVE, INC.

TARLAC ELECTRIC COMPANY

TARLAC ELECTRIC COOPERATIVE II

TARLAC ELECTRIC INC.(TEI)

TARLAC1 ELECTRIC COOP, INC.

TEAM ENERGY FOUNDATION INC.

ZAMBALES I ELECTRIC COORPERATIVE, INC.

ZAMBALES II ELECTRIC COOPERATIVE, INC.

ZAMBOANGA CITY ELECTRIC COOPERATIVE