The Energy Regulatory Commission said Tuesday it extended the suspension on the feed-in tariff allowance collection until September 2023.
“This decision introduces remedies to ease the financial burden on consumers at the midst of escalating costs of electricity,” the ERC said in a statement.
It said the third suspension would provide relief through reduced power cost in the amount of P0.0364 per kWh. The ERC first suspended the FIT-ALL collection in November 2022.
The ERC said it re-evaluated the FIT-All Fund balance in view of the rising level of inflation and cost of living affecting millions of Filipino households and found its healthy status, which could sufficiently cover the FIT-All payment requirements until August 2023.
The regulator said that with the suspension, consumers would enjoy the benefit of reduced power cost for almost a year now. “This move comes at a crucial time when inflation and the cost of living have been affecting numerous Filipino households,” the ERC said.
