The Energy Regulatory Commission (ERC) has suspended the collection of the Feed-in-Tariff (FIT-All) from December until February 2023 amid rising levels of inflation and cost of living in the country.
“In light of the rising level of inflation and cost of living affecting millions of Filipino households, the government is introducing remedies to ease inflation pressure on its citizens, including those that address the ability to pay for the rising cost of electricity due to external pressures,” the ERC stated in a resolution released on Monday.
The current FIT-ALL rate is Php 0.0364 per kilowatt-hour (kWh).
FIT-All is a uniform charge billed to on-grid electricity consumers to cover payments to renewable energy developers who are assured of a fixed rate per kWh for electricity generated by their projects over 20 years.
“The Commission hereby resolves to approve and adopt a temporary suspension in the collection o the FIT-All for a period of three months, starting December 2022 until the February 2023 billing months,” the ERC said.
The ERC will review the status of the FIT-ALL fund by January next year to determine if the collection will remain suspended.
As of November 7, the FIT-All fund has a balance of Php 4.245 billion, excluding the November 2022 cost recovery revenue.
