ERC set to release final auction rates next week

By Alena Mae S. Flores – June 11, 2023, 6:20 pm
from manilastandard.net

The Energy Regulatory Commission said it will release the final reserve price for the Green Energy Auction Program 2 next week.

ERC chairperson Monalisa Dimalanta said they aimed to release the GEA Reserve price by Wednesday or Thursday so that bidders could still consider the rates in the preparation for the bids on June 19.

Dimalanta said the new rates would vary depending on the feedback gathered in the public consultations but assured that the agency will act faithfully according to its mandate.

“We think there is a space wherein these interests align—so, the mindset-shift comes in terms of searching for that space of alignment rather than simply balancing the interests which implies that one interest is favored over the other,” Dimalanta said when asked how the regulator would balance the interest of the consumers and the power generators.

ERC recently completed the public consultations for Luzon, Visayas and Mindanao on the preliminary GEAR 2.