A lawmaker on Friday scored the regulatory inaction of the Energy Regulatory Commission (ERC) that has resulted in a whopping P6.6 billion backlog in feed-in tariff (FiT) rate payments owed by the government to renewable energy developers for 2016, including P230 million in interest payments alone.
Senator Sherwin Gatchalian, the chairman of the Senate Committee on Energy, linked the payment backlog to the sluggish action of ERC commissioners on applications of the National Transmission Corp. (TransCo) to collect higher FiT-All rates aimed at augmenting its subsidy to eligible RE developers and allowing it to pay its obligations.
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