The cost of electricity coming from renewable energy projects will go up by less than P0.15 a kilowatt hour, the National Renewable Energy Board said Thursday.
Developers of renewable energy produced from solar and wind power and biomass have appealed for higher feed-in tariff computations, but the board still expects the feed-in tariff allowance to go up by less than P0.15 a kilowatt hour, according to Chairman Pete Maniego.
“I think that the FIT-all [FIT allowance] would still be lower than 15 centavos,” Maniego said.
Electricity users are obliged to pay a uniform peso-per-kilowatt-hour charge, known as the FIT-All, which will be collected and placed in a fund to be administered by National Grid Corp. of the Philippines.
The FIT-All will be included in the transmission billing statement as a separate line item. National Grid will use the fund to pay the developers of renewable energy.
Maniego met with the renewable energy developers on Wednesday to discuss their concerns on the FIT and their installation targets.
“The estimated impact on the FIT allowance based on the current proposed FIT rates and installation targets is lower than the figure given by the RE Caucus,” Maniego said.
The renewable energy developers have proposed the FIT computations at P19.87 per kilowatt hour for solar energy at an installation target of 235 megawatts, P11.29 for wind (340 Megawatts), P8.22 per kilowatt hour of biomass electricity (170 megawatts), P7.40 per kilowatt of hydro electricity (148 megawatts), and P18.52 per kilowatt hour of electricity produced from ocean power (10 megawatts).
