ERC sets run-of-river FIT at P6.11 per kWh

By Manila Standard – September 22, 2023, 8:35 pm
from manilastandard.net

The Energy Regulatory Commission (ERC) said Friday it issued a resolution setting the feed-in tariff (FIT) for run-of-river (ROR) hydro for the third FIT round (FIT3) at P6.1110 per kilowatt-hour.

This is contained in ERC Resolution No. 14, series of 2023, dated Aug. 15, 2023 where the approved rate for ROR FIT3 covers Jan. 1, 2020 to Dec. 31, 2021 and carries an annual degression of 0.5 percent until full subscription of the 250-megawatt installation target.

The Renewable Energy Law mandated the establishment of a FIT system for electricity produced from wind, solar, ocean, run-of-river, hydropower and biomass. The FIT system guarantees all eligible renewable energy plants an entitlement for the applicable FITs for the a period of 20 years.

It is a policy mechanism to accelerate investments and hasten the deployment of renewable energy as a key strategy toward achieving energy security and self- reliance.

The third round of FIT for ROR hydropower covers the balance in the installation target which is 103.999 MW for those eligible plants coming in from January 2020 until its full subscription.