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Manila Bulletin devider Business devider FIT-All suspension in electric bills seen staying until yearend

FIT-All suspension in electric bills seen staying until yearend

Published Oct 18, 2023 06:47 am

At A Glance

  • Escalation in the FIT-All charge to be billed to consumers is seen starting next year with the entry of new RE capacities that are underpinned with power supply agreements (PSAs) awarded under the Green Energy Auction (GEA) program of the government.

The Energy Regulatory Commission (ERC) is poised to sustain the suspension of the P0.0364 per kilowatt hour (kWh) feed-in-tariff allowance (FIT-All) line item in the electric bills until the end of the year, hence, providing slight relief in the pockets of all ratepayers especially during the high spending Christmas season.

According to ERC Chairperson Monalisa C. Dimalanta, there is high probability that the FIT-All collection will still be deferred until December, because there is still leeway based on the current status of the fund.

“It appears that it (FIT-All suspension) until yearend can be done. But we continue to monitor because we also don’t want the fund to be depleted,” she stressed.

The FIT-All Fund is being administered by state-run National Transmission Corporation (TransCo), being the mandated entity collecting FIT-All payments from consumers; then it is utilizing that to settle feed-in-tariff (FIT) payments to the qualified renewable energy (RE) developers.

The temporary stoppage of FIT-All collection in the electric bills started in the December billing in 2022, hence, it will already reach a stretch of one year by end-year.

At the time, the government has been exploring ways how to slightly ease the burden of consumers over swelling electric bills – and since there had been surplus in the FIT-All collection, the ERC temporarily ordered ceased collection on that cost component in the bills.

Starting next year, however, it is highly anticipated that the FIT-All line item in the bills will go up because of the entry of additional RE capacities – primarily the projects that had been awarded by the Department of Energy (DOE) on the two rounds of green energy auction (GEA) it carried out in 2022 and this year.

Scheduled for capacity deliveries next year will be the 2,000 megawatts of RE capacities awarded in June 2022 and portion of capacities in the GEA-2 awarded July this year; and the rest of the capacities are due for commercial operation dates (CODs) in 2025 and 2026.

As culled from TransCo’s rate application for 2024, it has been estimated that the FIT-All rate will escalate to P0.0867 per kWh, which will surge by P0.0503 per kWh or more than double the prevailing FIT-All rate.

Based on the company’s calculation, the rate pass-on for the FIT-eligible RE plants will still account for the bulk at P0.0865 per kWh; while the new entrants from the GEA-awarded plants will cover the balance of P0.0002 per kWh.

By 2025 and 2026, it is similarly projected that the FIT-All will rise further because many new RE plants awarded with long term power supply agreements (PSAs) under GEA will already reach commercial operations based on their committed delivery dates to the government.



 

 

 

 

Related Tags

Department of Energy renewable energy Energy Regulatory Commission FIT-All RE auction
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