ERC suspends FIT-All collection until August
THE Energy Regulatory Commission (ERC) said it will extend the suspension of feed-in tariff allowance (FIT-All) collection until August, citing the need to provide relief to consumers as electricity bills rise.
In a statement, the ERC said the resulting reduction on power bills is estimated at P0.0364 per kilowatt-hour.
“With this extension, we want to assure the consumers that the Commission continues to be vigilant in pursuing measures to reduce power rates without compromising security of supply which, in this case, comes from RE plants,” ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta said in a Viber message.
In November, the ERC suspended the collection of FIT-All between December and February. The latest decision takes effect in March.
“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.
FIT-All is a uniform charge levied on all on-grid electricity customers, calculated and set annually. The fund these payments go into support the development and promotion of renewable energy (RE).
FIT-All funds payments to RE developers who have secured a fixed rate for electricity generated by their projects.
“Our renewable energy developers under the FIT program can likewise be confident that we are diligently monitoring the FIT-All Fund to make sure there is sufficient balance to cover payments for the renewable power supplied to all consumers,” Ms. Dimalanta said.
Meanwhile, the ERC has directed distribution utilities, retail electricity suppliers and the National Grid Corp. of the Philippines to report compliance with the original FIT-All collection suspension.
“The directive was issued in order for the Commission to ensure correct and timely compliance of these said entities, as the collection agents,” the ERC said. — Ashley Erika O. Jose