MANILA -The Energy Regulatory Commission has issued a higher feed-in tariff (FIT) rate of P6.110 per kilowatt-hour (kWh) for run-of-river (ROR) hydropower facilities in a bid to encourage developers to help meet the capacity target for this technology.
According to the ERC, the third round of FIT (FIT 3) for ROR hydro covers facilities that entered the power grid from Jan. 1, 2020 to Dec. 31, 2021.
FIT is an incentive for developers of clean energy technologies and is meant to encourage them to accelerate the development and deployment of renewable energy in the Philippines.
These rates gradually decline over time as these are expected to drop as the technologies mature. This also gives an incentive to key industry players that develop technologies earlier.
The FIT 3 rate is higher than the P5.90 per kWh that covered technologies that entered the grid from Jan. 1, 2015. INQ
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
