TransCo’s FIT settlement backlog reduced to P200 M Lower RE subsidy anticipated 0 SHARES Share it! Share TweetBy Myrna M. VelascoFrom having staggering eight-month arrears last year, state-run National Transmission Corporation (TransCo) was able to substantially pare its settlement backlog of feed-in-tariff (FIT) to renewable energy (RE) developers to just one month which is now just equivalent to P200 million. Often, there are regulatory backlogs in the approval of FIT adjustments at the ERC and that hobbles the ability of TransCo, being the FIT fund administrator, to adhere to timely payments of FIT claims of the qualified RE firms. The last FIT-Allowance hike approval by the ERC last year had been at P0.0733 per kWh, jacking up the subsidy charge then from P0.1830 per kWh to P0.2563 per kWh. FIT-Allowance is a line item in the electric bills representing the per-kilowatt hour cost subsidy to RE component of power supply used in the provision of service to electricity consumers.

Source: Manila Bulletin February 23, 2019 14:01 UTC