ERC raises FIT-All rate to P0.1189/kWh starting Mar

Starting in March, Filipino consumers will see an increase in their electricity bills due to a new rate for the feed-in tariff allowance (FIT-All) approved by the Energy Regulatory Commission (ERC).

The ERC has set the new FIT-All rate at P0.1189 per kilowatt-hour (kWh), higher than the current rate of P0.0838/kWh, following a depletion of the fund due to sustained low prices in the Wholesale Electricity Spot Market (WESM).

This adjustment aims to ensure that the FIT-All fund has sufficient funds to cover payments to eligible renewable energy developers.

ERC Chairperson Monalisa C. Dimalanta explained that the increased rate for the first quarter will help maintain adequate funding within the FIT-All system, ensuring fair and reflective rates charged to consumers based on actual market conditions.

The regulators noted that the revision of TransCo's initial FIT rates was done to reflect actual electricity generated from renewable energy sources in 2024, rather than forecasts.