The Energy Regulatory Commission (ERC) has approved the 30-day extension on the Feed-in-Tariff Allowance (FIT-All) 2017 rate application of the National Transmission Corp. (Transco)
The ERC has moved the deadline to December 1,2016 from the original October 31 schedule.
“With the sufficient leeway granted to Transco, ERC expects it to complete all the requirements for filing its 2017 FIT-All rate application on or before 01 December 2016. The FIT-All mechanism is a vital component for the development of the renewable energy industry of the country,” ERC chairman and CEO Jose Vicente Salazar said.
Transco has asked the ERC in early October to enable it to secure the required board approval and complete all the requirements for the 2017 FIT-All rate application.
A similar request was also filed by the company in July as it was waiting for its board to be convened and pending the ERC’s final decision on the 2016 FIT-All rate application.
The ERC allowed Transco to file its 2017 FIT-All application on or before October 31, but the company still found it insufficient thus requesting for a second extension.
FIT-All is a uniform charge billed on all on-grid electricity consumers supplied with power from qualified renewable energy generators.
Under the Fit-All guidelines, Transco is the administrator of the FIT-allowance thus required to establish an annual determination of tariffs.
TransCo is a government agency established through the Electric Power Industry Reform Act (EPIRA) of 2001 that operates and manages the country’s power transmission system until it was bid out in 2008.