ERC unveils final Green Energy Auction reserve prices for round 2

The Energy Regulatory Commission has released the Final Green Energy Auction Reserve (GEAR) prices for the Round 2 of the Green Energy Auction after thorough and due deliberation.

The DOE originally planned to conduct the auction on June 19 but moved it to a later date pending the issuance of the GEAR and give interested bidders time to prepare their bids.

ERC set the GEAR price for ground-mounted solar at P4.4043 per kilowatthour, rooftop solar at P4.8738 per kWh, floating solar at P5.3948 per kWh, onshore wind at P5.8481 per kWh, biomass at P5.4024 per kWh and biomass waste-to-energy at P6.2683 per kWh

The said GEAR prices or ceiling prices are applicable to the 6,715 MW of ground mounted solar, 605 MW of solar rooftop, 300 MW of floating solar, 3,720 MW of onshore wind, 230 MW of biomass and 30 MW of waste to energy from 2024 to 2026.