The Energy Regulatory Commission (ERC) is on track to issue the final rates for the 2,000 megawatts (MW) renewable capacity that will be auctioned under the Green Energy Auction Program (GEAP).
ERC chairperson Agnes Devanadera said they are set to issue the Green Energy Auction Reserve (GEAR) price in time for the June auction schedule of the Department of Energy (DOE).
“There are legal issues But we’re on track. We have already completed the PubCon [public consultation] and the comments,” Devanadera said.
ERC previously issued the preliminary rates, which were generally lower than the feed-in tariff (FIT). The preliminary rates underwent public consultations.
The preliminary rates were set at P3.6248 per kilowatt-hour (kWh) for solar, P5.2887 per kWh for wind, P5.5480 per kWh for biomass, and P5.8705 per kWh for run-of-river hydro.
The DOE wants to conduct the auction on or before June 17 and issue the notice of award to the winning bids on or before June 24.
About 1,400 MW of the RE capacity needed is located in Luzon, 400 MW in Visayas and 200 MW in Mindanao.
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