The Energy Regulatory Commission (ERC) directed the extension of suspension in the collection of the Feed-in Tariff Allowance (FIT-All) for the next six months which help helped mitigate high electricity rates for the next six months.
According to a statement, this will last for another six months starting March 2023 until August 2023.
Amid high cost of electricity, the ERC’s move will bring relief to the consumers in terms of a lower power rate by PhP0.0364/kWh.
In view of the rising level of inflation and cost of living affecting millions of Filipino households, the ERC re-evaluated the FIT-All Fund balance and found its healthy status, which can sufficiently cover the FIT-All payment requirements for six more months.
Collection of the FIT-All was suspended following the issuance by the ERC of a resolution in November last year, halting the collection of P0.0364 per kilowatt-hour FIT-All rate for three months from December 2022 to February 2023.
The suspension was made to help lower electricity rates and temporarily relieve consumer pressure brought by inflation.
The FIT-All is a uniform charge imposed on all on-grid electricity consumers, and is a component of the electricity bill that ensures the development and promotion of renewable energy (RE) in the country.
The Distribution Utilities (DUs), Retail Electricity Suppliers (RES), and National Grid Corporation of the Philippines (NGCP), are directed to report to the ERC not later than 31st of March 2023, the status of its implementation of the suspension of the collection of FIT-All charge from December 2022 to February 2023 billing period.
CURRENTPH NEWS SERVICE
