The Energy Regulatory Commission (ERC) has released the preliminary prices for the Green Energy Auction Reserve (GEAR) under the government’s Green Energy Auction Program (GEAP).
The preliminary GEAR price for solar is Php3.6248 per kilowatt-hour (kWh), Php5.2887/kWh for wind, Php5.5480/kWh for biomass or waste-to-energy, and Php5.8705/kWh for run-of-river hydro.
GEAR price, as defined by the Department of Energy (DOE), is the maximum price offered on a peso per kWh basis. It will serve as the cap for the auction conducted for the period during which the tariffs are in effect.
The rates will be discussed with interested stakeholders in a public consultation next Friday (April 1).
“All interested parties are required to submit their comments using the prescribed template for comments on the preliminary prices on or before 30 March 2022,” ERC said in its notice.
Earlier this year, the DOE released a notice of auction for 2,000 megawatts (MW) of renewable energy (RE) capacity under the GEAP. 1,400MW are up for auction in the Luzon Grid, 400MW in the Visayas Grid, and 200MW in the Mindanao Grid under the first round of the auction.
The GEAP looks to boost RE as the country’s source of power.