Electricity Bills to Increase in March as ERC Approves Higher FIT-All Rate

Consumers should brace for higher electricity bills starting March, as the Energy Regulatory Commission (ERC) has approved an increase in the Feed-In Tariff Allowance (FIT-All) rate.

Key Details:

🔺 FIT-All Rate Hike: From ₱0.0838/kWh to ₱0.1189/kWh
🔺 Reason: Depletion of the FIT-All Fund due to low prices in the Wholesale Electricity Spot Market (WESM)
🔺 Purpose of FIT-All: Ensures payments to renewable energy (RE) suppliers and supports the growth of clean energy

According to the ERC, the lower-than-expected WESM prices affected the fund’s ability to cover FIT payments, necessitating the adjustment.

Meralco’s Electricity Rate Hike

Earlier this month, Meralco also raised its household electricity rate by 28.34 centavos, bringing the new rate to ₱12.0265/kWh.

“The ERC is committed to ensuring that FIT-All rates are fair, transparent, and reflective of actual market conditions,” the commission stated.