State-run National Transmission Corp. is applying for a feed-in tariff allowance of P0.0867 per kilowatt-hour in 2024 to pay the renewable energy plants under the feed-in tariff systems and the Green Energy Auction Program.
TransCo filed an application for approval of the FIT-All with the Energy Regulatory Commission on July 27, 2023 under Case No. ERC 2023-096 RC.
“The grant of a provisional authority will allow TransCo to perform its duties and to make a timely payment of the FITs to FIT-eligible RE developers to which they are entitled, thereby allowing their continued operations,” TransCo said.
The FIT-All is a uniform charge billed to on-grid electricity users and is set annually by the ERC. Collection was suspended by the ERC to give relief to consumers from high power rates. Prior to the suspension, consumers were paying an FIT-All rate of P0.364 per kWh.
The ERC is reviewing whether to extend or lift the FIT-All rate collection suspension.
TransCo administers the feed-in tariff fund, which is used to pay the FIT of renewable energy developers under the Renewable Energy Act of 2008.
The law established a FIT system for electricity produced from wind, solar, ocean, run-of-river, hydropower and biomass. It guarantees all eligible renewable energy plants an entitlement for the applicable FITs for 20 years.