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Friday, March 29, 2024

ERC issues preliminary prices on green energy

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The Energy Regulatory Commission said Thursday it issued the preliminary prices on the 2,000 megawatt of renewable energy capacity to be auctioned under the Green Energy Auction Program, which most developers view as too low compared to the existing feed-in tariff rate.

ERC set the preliminary Green Energy Auction Reserve prices at P3.6248 per kilowatt-hour for solar, P5.2887 per kWh for wind, P5.5480 per kWh for biomass and P5.8705 per kWh for run-of-river hydro.

Developers said the rates were too low and that hey were preparing their counter proposals to the ERC. “The solar alliance will submit a position paper on the proposed tariff by the regulators. I don’t think their numbers are up-to-date specifically the increase in panel prices to as much as 30 cents per watt peak. Pre-pandemic, prices were at 23 cents. As you know, panels constitute 45 percent of capex. Moreover, exchange rate is now at 53/$1,” said Tetchi Capellan of the Philippine Solar and Storage Energy Alliance. Alena Mae S. Flores

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