It may take five more months before regulators can come up with the tariff incentives for renewable energy projects, the Energy Regulatory Commission (ERC) said. Francis Saturnino Juan, ERC executive director, said the feed-in-tariff (FIT) would be completed by February next year once the National Energy Regulatory Board (NREB) submits its computations by November.
“We’re targeting three months from the submission to conduct the hearings for the setting of the FITs and come [up] with the decision,” he said.
The ERC initially set an August deadline for the NREB to release its FIT figures. The computed FIT would then determine the tariff on different renewable energy projects within a prescribed period to guarantee investors’ returns.
The NREB, however, asked the ERC to extend the deadline by another two months. Once completed, the FIT would be subject to regulatory approval.
The tariff scheme is one of the incentives given under the Renewable Energy Law to promote and encourage the development of clean and indigenous energy sources such as solar, wind, ocean, run-of-river hydroelectric power and biomass.
Under the latest draft rules issued by the ERC, consumers would have to shoulder the FIT enjoyed by renewable energy projects under a uniform charge, which is similar to the universal charge in electricity bills.
The amount collected from this tariff would then be distributed to renewable energy developers, based on their approved FIT.
The draft rules under review at the NREB would establish the incentive for each renewable energy project.
EUAN PAULO C. AÑONUEVO
“We’re targeting three months from the submission to conduct the hearings for the setting of the FITs and come [up] with the decision,” he said.
The ERC initially set an August deadline for the NREB to release its FIT figures. The computed FIT would then determine the tariff on different renewable energy projects within a prescribed period to guarantee investors’ returns.
The NREB, however, asked the ERC to extend the deadline by another two months. Once completed, the FIT would be subject to regulatory approval.
The tariff scheme is one of the incentives given under the Renewable Energy Law to promote and encourage the development of clean and indigenous energy sources such as solar, wind, ocean, run-of-river hydroelectric power and biomass.
Under the latest draft rules issued by the ERC, consumers would have to shoulder the FIT enjoyed by renewable energy projects under a uniform charge, which is similar to the universal charge in electricity bills.
The amount collected from this tariff would then be distributed to renewable energy developers, based on their approved FIT.
The draft rules under review at the NREB would establish the incentive for each renewable energy project.
EUAN PAULO C. AÑONUEVO
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