Tuesday, January 31, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

FIT to hike power rates soon

Alena Mae S. FloresbyAlena Mae S. Flores
March 7, 2016, 11:55 pm
in Business
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

The electricity bill of a typical household with power consumption of 200 kilowatt-hours a month will increase by P24.80 in April, after the government approved the collection of feed-in-tariff allowance for renewable energy projects.

The Energy Regulatory Commission provisionally approved the application of the National Transmission Corp. to collect a feed-in tariff allowance of P0.1240 per kilowatt-hour from power consumers this year. TransCo was designated as the FIT-All fund administrator, on behalf of renewable energy producers.

“The commission already approved the FIT-All and the order is now being finalized for the signature of the members of the commission,” ERC chairman Jose Vicente Salazar said.

“We provisionally approved the amount of P0.1240 per kWh,” he said.

This means a residential consumer, with a monthly electricity consumption of 200 kWh, will pay P24.80 more by April or at the start of the FIT-All collection.

ADVERTISEMENT

The feed-in tariff allowance refers to the uniform charge billed on power consumers, to reflect the higher rates enjoyed by completed renewable energy projects, such as solar, wind and biomass facilities.

The 2016 feed-in tariff allowance will be used to pay renewable energy projects amounting to P6.925 billion, with the bulk going to wind projects at P2.788 billion, solar at P2.591 billion, biomass at P1.263 billion and hydro at P282.516 million.

TransCo predicted wind projects in 2016 would be able to generate 977,205 megawatt-hours, followed by biomass at 682,407 MWh, solar at 632,686 MWh and hydro at 187,342 MWh.

The government allowed the installation of 500 MW of solar power  projects, 400 MW of wind power projects, 250 MW of hydro and 250 MW of biomass projects.

ERC approved a feed-in tariff rate of P6.63 per kWh for biomass,  P5.90 per kWh for hydro, P9.68 per kWh for first phase of solar, P8.69 for second phase of solar, P8.53 per kWh for first phase of wind and P7.40 per KWh for second phase of wind.

TransCo sought the regulators’ approval in December collect a FIT-All of P0.1025 per kWh from consumers starting this year, but the ERC approved a higher rate based on certain assumptions.

“We assessed the list of the existing FIT COCs [certificate of compliance] and those gencos [power generation companies] with pending FIT COC applications which are the most certain to become operational before the March 15 deadline. The list totaled 1,054 MW. Using this capacity, we computed the FIT-All to be P0.1240 per kWh,” Salazar said.

TransCo, in a filing to the regulator, said that pending the hearing on the merits of the present application, a provisional authority should be issued to collect the feed-in tariff allowance starting January.

It shall be set by the ERC on an annual basis, taking into account the forecast annual required revenue of the eligible renewable energy plants, previous year’s under or over recoveries, administration costs, forecasted annual electricity sales and other factors.

TransCo also asked ERC that after due notice and hearing, a permanent approval be granted to implant the FIT-All rate for 2016 of P0.1025 per kWh, “computed for RE project with at least nomination from DOE for eligibility under the FIT system.” it said.

The agency said it sought a lower feed-in tariff allowance from the computed level of P0.1470 per kWh  in view of the ERC’s decision limiting the forecast renewable energy generation included in the computation to those renewable energy plants with certificates of endorsement.

“The computed 2016 FIT-All  rate covering RE projects with at least 80 percent electromechanical completion, thus are almost sure to operate within the period under consideration, if not already operating to date,” it said.

TransCo also included in the 2016 computation the under-recoveries for 2015 estimated at P0.0268 per Kwh.

The passage of the Renewable Energy Law of 2008 which provided for the feed-in tariff regime  ushered in the entry of renewable energy projects.

Tags: Energy Regulatory CommissionERCfeed-in tarifffitNational Transmission Corppower rates
ADVERTISEMENT
Alena Mae S. Flores

Alena Mae S. Flores

Related Posts

Economic outlook remains promising under 6-year plan

byJulito G. Rada
January 30, 2023, 7:10 pm
0
8
Anti-trust body warns of penalties

National Economic and Development Authority Secretary Arsenio Balisacan said Monday the economic outlook remains “promising”, but the country should take...

Read more

Upson secures PSE approval on P4.88-b IPO

byJenniffer B. Austria
January 30, 2023, 7:05 pm
0
8
Bitskwela’s Bull or Bear Web3 debates discuss cryptocurrencies, NFTs

Gadgets retailer Upson International Corp. said Monday it obtained the Philippine Stock Exchange’s approval for its planned P4.88-billion initial public...

Read more

BPI eyes global bond issuance in Q2 to refinance maturing debt

byJenniffer B. Austria
January 30, 2023, 7:00 pm
0
8
BPI’s income increased 1.8% to P17.5b in 1st three quarters

Bank of the Philippine Islands plans to return to the international bond market this year to refinance part of or...

Read more

Japanese firm asked to finish Manila-Malolos rail on time

byDarwin G. Amojelar
January 30, 2023, 6:55 pm
0
8
MRT-7 seen to start partial operations in 2022

The Department of Transportation on Monday asked the Japanese contractor of the North South Commuter Railway Phase 1, or the...

Read more

UnionBank’s net income steady at P12.7b in 2022

byJulito G. Rada
January 30, 2023, 6:50 pm
0
8
UnionBank eyes P40-billion stock rights offering to buy local Citi unit

Union Bank of the Philippines, one of the largest lenders in terms of assets, said Monday it posted a net...

Read more

CREIT receives permit on ASEAN green bonds

byManila Standard
January 30, 2023, 6:45 pm
0
8
CREIT confident on P10.1-b IPO

Citicore Energy REIT Corp., the country’s first renewable energy REIT and largest RE landlord, said Monday it received a permit...

Read more

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • PBBM rolls out 5-year dev’t plan
  • Mr. Marcos says education system ‘failed’ the children
  • Fuel price hikes: Gas up P1.30/l, diesel by P1/l
  • Enrile slams ICC, suggests probers’ arrest for interfering
  • Power snaps may hit rural areas
  • PBBM vows ‘all possible aid’ to Ranara family
  • SC nullifies SEC memo on CPAs, external audits

Advertisement

Latest News

Power snaps may hit rural areas

byAlena Mae S. Flores
January 31, 2023, 12:50 am
0
8
Napocor seeks higher charges

State-run National Power Corp. warned on Monday about year-long daily power interruptions affecting 1.3 million households in remote islands and...

Read more

PBBM vows ‘all possible aid’ to Ranara family

byVince Lopezand1 others
January 31, 2023, 12:30 am
0
8
PBBM vows ‘all possible aid’ to Ranara family

President Ferdinand Marcos Jr. on Monday vowed to extend all possible assistance to the family of Jullebee Ranara, the 35-year-old...

Read more

SC nullifies SEC memo on CPAs, external audits

byRey E. Requejo
January 31, 2023, 12:20 am
0
8
Omicron now dominant virus variant in US

The Supreme Court has nullified for being unconstitutional the memorandum circulars issued by the Securities and Exchange Commission that required...

Read more

Now things get ‘egg-citing’

byManila Standard
January 31, 2023, 12:15 am
0
8
Now things get ‘egg-citing’

First, we got reports on the unrestrained smuggling of food products like sugar, rice, onions, fish and meat—but no one...

Read more

Victory for press freedom

byTony La Viña
January 31, 2023, 12:10 am
0
8
Denying Villafuerte justice

"May the free press win in all these cases" Rappler Holdings Corporation and its president Maria Ressa have been acquitted...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App