The Energy Regulatory Commission (ERC) said Thursday it decided to lift the suspension on the collection of the feed-in tariff allowance (FIT-All) starting the February billing period because of the dwindling fund used to pay for the output of renewable energy producers.
It earlier suspended for more than a year, from December 2022 to January 2024, the collection of FIT-All, a charge imposed on power consumers to pay for renewable energy producers, to provide relief to consumers amid the elevated inflation.
The ERC issued Resolution No. 01, Series of 2024 on Jan. 16, 2024 to reflect the lifting of the suspension due to the looming deficit in the projected FIT-All Fund, a component of the electricity bill that ensures the development and promotion of RE in the country.
It said it reevaluated the balance of the FIT-All fund as of Jan. 5, 2024, inclusive of the cost recovery revenue (CRR) collections in November 2023, and found that the fund would be in deficit in the February 2024 customer monthly billing.
“In view of this, the commission resolved to approve and adopt the lifting of the suspension and to resume the collection of the FIT-All charges,” the ERC said.
The commission approved the implementation of the FIT-All rate at P0.0364/kWh in August 2022, but temporarily suspended its collection for three months, or from December 2022 until February 2023 billing months.
It extended the temporary suspension for another months, starting March 2023 until August 2023 billing, through ERC Resolution No. 02, Series of 2023. After this, the commission further extended the suspension through Resolution No. 11, Series of 2023.
