Alternative funding source for FiT not yet available — DOE

THE Department of Energy (DoE) has not yet found the funds to replace the feed-in-tariff (FiT) allowance being collected from electricity consumers to repay investors in renewable energy projects.

“There is none yet,” Energy Undersecretary Felix William B. Fuentebella said when asked whether the department had found a possible funding source.

“We’re still looking and negotiating for funding,” he said.

He said there would be no third round of FiT, a guaranteed payment for 20 years for the electricity produced by renewable energy developers, until the DoE has found an alternative funding source other than billing customers through a “FiT allowance.”

“We will not put a deadline,” he said when asked about the timeline for the DoE’s attempt to free consumers of the so-called FiT-all, which is included in their monthly electricity bill.

Late last year, the Confederation of Solar Power Developers of the Philippines (CSPD) pleaded for a resolution of around 300 megawatts (MW) of capacity that failed to make it to the second round of FiT under a 500-MW installation target.

CSDP President Reynaldo T. Casas said he was pleased to see that some of the regulatory bodies had started responding to the confederation’s call. He added that the DoE had formed a independent committee to look into the issue.

Read more here.

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