Energy regulator freezes collection of interest on delayed FiT revenue bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Published April 30, 2021, 8:00 AM
System operator National Grid Corporation of the Philippines (NGCP) carried out its ‘blackout simulation drill’ as part of its emergency preparation measures in case any of the power grids would descend into unwanted power interruptions or brownouts.
Similar to last year, the company noted the activity was done in a virtual setting to observe social distancing measures because of the Covid-19 pandemic. But just the same, the outcome was still well intended at “ensuring stable and reliable transmission services in the event of a major power disturbance or emergency.”
NGCP said its systems operations personnel spearheaded the simulation drill, and this was done in collaboration with key industry stakeholders – including the power generation companies, distribution utilities and government agencies like the Department of Energy (DOE), National Electrification Administration (NEA) and National Transmission Corporation (TransCo).
BusinessWorld
April 25, 2021 | 7:27 pm
SIEMENS
THE National Transmission Corporation (TransCo) said 17 biomass projects with a capacity of 135.13 megawatts (MW) are billing the feed-in tariff allowance (FiT-All) to consumers after their renewable energy payment agreements (REPA) were deemed effective.
The FiT-All is a uniform charge billed to on-grid customers. The collections are remitted to TransCo, which will then distribute it to RE developers participating in the FiT system.
“There is already 135.13 MW in biomass capacity currently eligible for FiT and are already billing the FiT-All Fund for their FiT revenue,” TransCo told
BusinessWorld by Viber Friday.
A REPA assures RE firms of revenue from the approved FiT. But TransCo said that only firms with an “effective REPA” are qualified for the FiT.
TransCo President and CEO Melvin A. Matibag
In a virtual conference undertaken by the FIT fund administrator, TransCo President and CEO Melvin A. Matibag forthrightly stated that “the delay in approval of the FIT-All rate application may potentially lead to the depletion of the FIT-All fund.”
The FIT-All fund accounts for the line item being collected from consumers’ electric bills and such revenue streams are being used to settle the FIT claims of qualified RE project developers.
Matibag further noted “we have challenges that point to regulatory delays that also prioritize the consumer welfare over the welfare of suppliers.”
Given that as a socio-economic dilemma, he told the FIT-incentivized RE companies that “we are in search of how to balance the competing challenges and needs of consumers and suppliers.”
TransCo remits P8 3-B dividends to NG – Manila Bulletin mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.