LAOAG, Ilocos Norte: The feed-in-tariff (FIT) system, a government incentive given to renewable energy (RE) producers, would eventually lower electricity rates, according to industry players.
This is contrary to the belief that the FIT mechanism will increase power rates after the government imposed a four-centavo per kilowatt-hour (kWh) additional charge on consumers’ monthly bills through the FIT allowance (FIT-ALL).
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