ERC suspends FIT-ALL collection by another six months

By Alena Mae S. Flores – February 23, 2023, 7:25 pm
from manilastandard.net

The Energy Regulatory Commission said Thursday it suspended the collection of feed-in tariff allowance for another six months starting March 2023.

It said in a statement it decided to extend the FIT-All collection moratorium until August 2023 amid the high cost of electricity to bring relief to consumers in terms of a lower power rate of P0.0364 per kilowatt-hour.

The regulator issued a resolution suspending the FIT-All collection on Nov. 16, 2022, from December 2022 to February 2023.

“In view of the rising level of inflation and cost of living affecting millions of Filipino households, the ERC re-evaluated the FIT-All Fund balance and found its healthy status, which can sufficiently cover the FIT-All payment requirements for six more months,” the ERC said.

The FIT-all is a uniform charge imposed on electricity consumers and is a component of the electricity bill that ensures the development and promotion of renewable energy in the country.

The ERC directed the distribution utilities, retail electricity suppliers and the National Grid Corp. of the Philippines to report to the agency not later than March 31, 2023 the status of its implementation of the suspension of the collection of FIT-All charge from December 2022 to February 2023 billing period.

It issued the directive to ensure correct and timely compliance by the said entities as collection agents.

ERC issued the directive through a resolution dated Feb. 22, 2023.