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Manila Bulletin devider Business devider Trade & Industry devider DOE to set bidding rules for non-FIT RE plants

DOE to set bidding rules for non-FIT RE plants

Published Jul 17, 2023 09:02 am
The Department of Energy (DOE) is targeting to issue bidding guidelines for the inclusion of renewable energy (RE) projects previously dislodged from the feed-in-tariff (FIT) incentive system in the Green Energy Auction Program (GEAP). In a draft Circular furnished to relevant industry stakeholders, it stipulated that DOE will prescribe “specific auction policy and guidelines for non-FIT eligible RE technologies in consideration of the potential contribution and capacity of these RE technologies to meet the government’s target RE share in the power generation mix.” Under the country’s green energy development roadmap, the RE will have a share of 35 in the power mix by 2030 to be  ramped up to 50-percent by 2040. “The DOE shall undertake a different auction process and design for a specific non-FIT RE technology including alternate compensation package, as it may deemed fit in order to meet the objectives of the RE Act (Renewable Energy Act) and the energy transition program of the government,” the agency said. Upon the recommendation of the Green Energy Auction Committee (GEAC), the DOE further conveyed that it “shall announce the inclusion of non-FIT eligible RE technology in an auction prior to the drafting of the terms of reference.” In the prevailing GEA processes being carried out by the energy department, it is generally targeting the capacities of new RE projects within the delivery timelines set forth under the RE bidding’s terms of reference. In the past, however, there had been RE projects dislodged from the FIT system of incentives because the caps per RE technology prescribed by the government had already been fully subscribed. These capacities are now eyed by the energy department to be included in the successive RE auction it has been administering via the GEA program. In the rules being crafted by the department, it specified that “the winning bidders for each auction round for non-FIT eligible RE technology, shall be based on the offer price submitted by the qualified bidders.” The department stated such price offers shall be “evaluated by the ERC (Energy Regulatory Commission) based on a set of parameters and  criteria, which shall be disclosed together with the notice of auction (NOA).” In keeping with the prevailing rules governing GEA, the energy department specified that “the winning bids shall have no legal impediments to deliver committed capacity and must offer the entire capacity of the facility.”

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renewable energy FIT DOE RE auction
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