Published December 31, 2020, 5:00 AM
Electricity consumers will be greeted with a “Happy New Year rate hike” as they will need to pay more as subsidy to renewable energy (RE) projects via the feed-in-tariff allowance (FIT-All) line item in the electric bills that had been jacked up to P0.0983 per kilowatt hour (kwh), almost double if compared to the current pass-on rate of P0.0495 per kwh.
Energy Regulatory Commission
(ERC FACEBOOK / MANILA BULLETIN)
That was based on the approval given by the Energy Regulatory Commission (ERC) on the FIT-All rate petition of RE fund administrator National Transmission Corporation (TransCo) to account for adjustments in calendar year 2020. The FIT-All increase will be reflected in the bills by January.
That will be an increase of roughly P5.0 billion from the FIT revenues set for year 2020 at P30.792 billion.
The aggregate FIT collections next year had been based on the application filed by FIT fund administrator National Transmission Corporation (TransCo) with the Energy Regulatory Commission.
(Photo credit: http://www.petroenergy.com.ph/)
In that filing, TransCo is seeking for P0.1881 per kilowatt hour FIT-Allowance charge that shall be passed on in the electric bills next year; or in the alternative, it could also be a FIT-All of P0.2008 per kWh.
The ERC has scheduled virtual public hearings on the updated FIT-All application of TransCo from January 6 to February 4 next year, as culled from notices it sent to relevant industry stakeholders.