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Manila Bulletin devider Business devider Trade & Industry devider ERC sets preliminary prices for RE auction

ERC sets preliminary prices for RE auction

Published Apr 30, 2023 11:46 am
Factoring in macroeconomic fundamentals that affected technology prices and project financing, the Energy Regulatory Commission (ERC) has issued preliminary green energy auction reserve (GEAR) prices for the second round of tendering for renewable energy (RE) capacities to be administered by the Department of Energy (DOE) on June 19 this year. The regulatory body qualified though that the initially-calculated reserve prices will still be subject to public consultation by May 11, 15 and 16, so it can solicit inputs and comments from various segments of industry players and stakeholders that will be affected by such enforcement of GEAR tariffs. In the ERC-released figures, it was apparent that the initially-calculated GEAR price for ground-mounted solar had been higher at P4.2395 per kilowatt hour (kWh) versus P3.6779 per kWh in last year’s auction. The same goes the same way for biomass at P5.1475 per kWh from P5.0797 per kWh previously. Nevertheless, for wind farm installations, there was a reduction to P5.9823 per kWh from previously at P6.0584 per kWh. So far, it is the first time that the ERC had set GEAR prices for rooftop solar at P4.7156 per kWh, as well as for floating solar at P4.7565 per kWh following DOE’s prescription also on capacity offers for these specific technologies in the second green energy auction (GEA-2). There was no new GEAR price for run-of-river hydro in the forthcoming batch of RE bidding because the Department of Energy (DOE) decided to have the remaining feed-in-tariff (FIT incentives for this technology be fully subscribed first. The GEAR prices will be very essential in the RE capacity tendering because that will serve as the ceiling price on the offers that shall be accepted by the DOE for the green energy capacities to be commercially developed by qualified project-sponsors. The energy department is eyeing prescribed delivery timeframes of 3,600 megawatts by 2024; 3,600MW by 2025; and 4,400MW by 2026. Under GEA-2, the DOE will be soliciting 6,715MW of ground-mounted solar capacity – with the initial batch of 2,025MW due for delivery in 2024; to be followed by 2,140MW in 2025; and 2,550MW in 2026. For rooftop solar, the scale of capacity deliveries will be for 235MW in 2024; 260MW in 2025; and 160MW in 2026 for a total of 605MW; while for floating solar, the propounded capacity injection will be 300MW by 2026. On the offered 3,720MW of onshore wind installations, prescribed capacity deliveries had been set at 1,200MW by 2024; 1,170MW by 2025; and 1,350MW by 2026; while for biomass projects, capacity of 140MW shall be integrated into the grid by 2024; 30MW in 2025 and 60MW by 2026. Additionally, for waste-to-energy (WTE) facilities, capacity wheeling of 30MW had been set by the energy department by year 2026. The bidding of 11,600MW of RE capacities has been stirring up excitement in the RE investing community, not just in the Philippines but from interested foreign investors, hence, this is seen placing the Philippines again on the map of ‘hot’ energy markets – not just in the Asian region but globally.

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Department of Energy Renewable energy (RE) Energy Regulatory Commission (ERC) RE auction
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