ERC approves 74% FIT-All rate hike, electricity bills to increase in November

The Energy Regulatory Commission (ERC) has approved a 74.3 percent increase in the feed-in-tariff allowance (FIT-All) rate, which will result in higher electricity bills for households starting in November.

The FIT-All rate will rise to P0.21 per kilowatt-hour (kWh), an increase of P0.09 from the current P0.11 per kWh.

This adjustment is necessary to cover a P19.06-billion FIT differential and establish a P3.74-billion working capital allowance for the National Transmission Corporation (TransCo).

A consumer group, NASECORE, has urged the ERC to account for all FIT-All funds.

NASECORE stated that while the increase per kWh may seem small, it is multiplied per kilowatt-hour of usage.

ERC Chairman Nino Juan explained that the FIT-All is the cost of boosting renewable energy, which will benefit consumers in the long run through cleaner energy sources.