Economy


ERC extends FIT-All filing deadline for Transco




Posted on October 29, 2016


THE Energy Regulatory Commission (ERC) gave state-owned National Transmission Corp. (Transco) more time to complete its Feed-in-Tariff Allowance (FIT-All) filing.

In an order dated Oct. 25, the ERC granted the petition of Transco for a 30-day extension from Oct. 31 or until Dec. 1 to file their 2017 FIT-All rate application.

Transco requested for an extension in Oct. 12 to enable it to secure the required board approval and comply with all the requirements. It had asked for a three-month extension in July, which the ERC allowed.

“With the sufficient leeway granted to Transco, ERC expects it to complete all the requirements for fixing its 2017 FIT-All rate application on or before 01 December 2016,” ERC Chairman and CEO Jose Vicente B. Salazar was quoted in the statement as saying.

“The FIT-All mechanism is a vital component for the development of the renewable energy of the industry of the country,” Mr. Salazar said.

The FIT-All is a uniform charge billed to all on-grid electricity consumers who are supplied with electricity sourced from renewable energy providers.

Renewable energy developers are guaranteed a fixed tariff for projects involving biomass, hydro-power, solar and wind technologies. The tariff is meant to accelerate the exploration and development of clean energy sources and encourage the use of renewable energy to reduce greenhouse gas emissions.

TransCo said the FIT-All rate it asked to collect was lower than what it had earlier calculated, which was 14.70 centavos per kilowatt-hour based on factors that included working capital and the FIT differential, or the difference between the guaranteed rate to renewable energy developers and the actual price at the wholesale electricity spot market.

In 2015, the approved FIT-All rate was 4.06 centavos per kilowatt-hour. -- Krista Angela M. Montealegre