Published
June 8, 2018, 10:00 PM By Myrna M. Velasco
The shortfall in
collections of the feed-in-tariff allowance (FIT-All) from ratepayers will be
cut to P4.5 billion this year from previously at roughly P8.0 billion – that
was following the P0.0733 per kilowatt hour (kWh) increase in this charge as
recently approved by the Energy Regulatory Commission (ERC).
“Projected total
collection due to the adjusted FIT-All is P17 billion,” National Transmission
Corporation (TransCo) President Melvin A. Matibag has noted.
TransCo is the duly
designated administrator of the FIT Fund, which from its collection of FIT-All
from consumers, it will in turn pay the renewable energy (RE) developers on
their FIT incentive billings.
With the FIT-All charge
now at the level of P0.2563 per kWh, Matibag reiterated that “collection
shortfall will be down to around P4.5 billion from P7.0 billion plus.”
He added that the
company is now preparing their FIT-All adjustment filing based on calculated
pass-on for calendar year 2019, and they are eyeing to lodge the new
application with the ERC by July this year.
Distribution utilities,
like the Manila Electric Company (Meralco), have started passing on the higher
FIT-All charges in this billing month.
In the last warranted
adjustment, TransCo used the 36-month load weighted average price (LWAP) for
the August 2013 to August 2016 of P4.9331 per kWh and P3.5409 per kWh in Luzon
and Visayas, respectively; and applicable to all technologies.
For Mindanao, it had
taken cue from the weighted average generation cost on supply procured by
distribution utilities that have been taken as sample in the calculation of the
cost recovery rate.
Beyond the usual
shortfall in collections, additional costs being batted for to be recouped in
the FIT-All filing are interest charges that have been accruing due to delay in
the adjustment of the RE subsidy tariff.
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