Power bills are set to increase as the Energy Regulatory Commission (ERC) orders the resumption of the Feed-in-Tariff Allowance (FIT-All) collection, adding 3.64 centavos per kilowatt-hour (kWh) starting next month.
The decision comes due to a “looming deficit” in the FIT-All fund, with the remaining balance as of January 5 at P2.98 billion, and monthly payments of P2.2 billion to renewable energy developers.
ERC Chair Monalisa Dimalanta stated that the projected deficit in the FIT-All fund necessitated the resumption of collection in the February 2024 billing cycle.
Source: PhilNews24 | January 19, 2024
