State-run National Transmission Corp. is seeking approval of a new feed-in tariff rate of P0.2278 per kilowatt-hour for 2020, which includes the feed-in tariff allocation for biomass and run-of-river hydro projects completed late this year.
“The grant of a provisional authority will allow TransCo to perform its duties to make a timely payment of the FIT rate to RE developers to which they are entitled, thereby allowing their continued operations,” the company said in its filing with the Energy Regulatory Commission.
TransCo manages the FIT-All fund, the fund that is used to pay the renewable energy developers eligible under the FIT system.
The FIT system is an incentive scheme that, among others, gives priority to connections to grid, priority purchase and transmission of, and payment for, generated and fixed tariff for not less than 12 years to be determined by the ERC.
“Our filing for 2020 is a bit higher than prevailing rate (P0.2226 per kWh) now. But that’s because in 2020 we estimate additional biomass and hydro plants coming in (actually starting late 2019),” said Dina Dizon, head of TransCo’s feed-in tariff team.