FIT payment dues hit nearly P8b—Transco

By Alena Mae S. Flores – April 10, 2018 at 07:00 pm
from manilastandard.net

State-run National Transmission Corp. wants the Energy Regulatory Commission to act on its pending feed-in tariff allowance petitions, saying the renewable energy payment backlog is now nearing P8 billion.

“I was hoping that before the suspension takes effect, they (ERC) can take action,” TransCo president Melvin Matibag said.

TransCo estimates the backlog for payment to renewable energy developers at around P7.9 billion to date.

TransCo manages the FIT-All rate that is used to pay eligible renewable energy  developers under the FIT system, 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.

The FIT guarantees all eligible renewable energy plants an entitlement to the applicable FITs for a period of 20 years.

TransCo has pending applications with the ERC for the FIT-All adjustment for 2017 and 2018.

TransCo asked ERC to increase the FIT-All by another P0.1051 per kilowatthour for 2017 from the current rate of P0.1830 per kWh.