Lower power rates seen due to extended FIT-ALL suspension: ERC


Posted at Feb 23 2023 02:53 PM

MANILA - The Energy Regulatory Commission said Thursday it has extended the suspension of the collection of Feed-in Tariff Allowance (FIT-All) which is seen to lower power rates paid by consumers.

The suspension of the FIT-ALL collection, or the fee imposed on all-grid electricity consumers and is part of the electric bill, was expanded by another 6 months starting March 2023 until August 2023 "amid high costs of electricity," the ERC said.

It said the measure would lower the power rate for consumers by P0.0364 per kWh. 

"In view of the rising level of inflation and cost of living affecting millions of Filipino households, the ERC re-evaluated the FIT-ALL Fund balance and found it healthy status, which can sufficiently cover the FIT-ALL payment requirements for 6 more months," the agency said.

Related agencies and stakeholders were mandated to report to the ERC the status of their implementation not later than March 31, it said.


Watch more News on iWantTFC