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Initial offshore wind auction price cap set at P10.39 kilowatt-hour
The Energy Regulatory Commission (ERC) has proposed a preliminary ceiling price of P10.3859 per kilowatt-hour (kWh) for the upcoming fifth green energy auction round (GEA-5), marking the highest price cap in the country's renewable energy auctions.
This Green Energy Auction Reserve (GEAR) price is intended for fixed-bottom offshore wind projects, which have an installation target of 3,300 megawatts (MW).
The ERC considered the costs of various wind turbine suppliers and other factors in setting this proposed GEAR price.
This auction is seen as a milestone in achieving the Philippine Energy Plan, with the country having a potential offshore wind capacity of over 68 gigawatts (GW).
The public can submit comments on the proposed GEAR price until December 19, with public consultations scheduled for January 5 and 6.
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