ERC greenlights FIT3 for run-of-river hydro

The Energy Regulatory Commission (ERC) has approved the feed-in tariff (FIT) for run-of-river (ROR) hydro at P6.1110 per kilowatthour (kWh) for the third round (FIT3) from January 1, 2020 to December 31, 2021.

The FIT is a policy mechanism to accelerate investments and hasten the deployment of renewable energy as a key strategy toward achieving energy security and self-reliance.

This third round of FIT for ROR hydropower is for the remaining balance in the installation target which is 103.999MW for those eligible plants coming in starting January 2020 until its full subscription.

The remaining unsubscribed target for ROR hydro is 77.217MW. as of 30 June 2023,.

The ERC, in the first round, set the FIT Rate (FIT1) for ROR Hydro at Php5.90/kWh, with a degression rate of 0.5% after year 2 from the effectivity of FIT on January 1, 2015.

ROR hydro’s degressed rate was at P5.8705 per kWh and is applicable for 2017 entrants.

US leads call to triple nuclear power at COP28

More than 20 nations including the United States called for a tripling of nuclear energy to drive down emissions on Saturday as world leaders assembled for a second day at UN climate talks in Dubai.