Lawmaker prods ERC release of GEA-3 prices

The Department of Energy (DoE) is urging the Energy Regulatory Commission (ERC) to expedite the release of bid prices for the third round of the Green Energy Auction Program (GEA-3).

During a Senate hearing, Senator Pia Cayetano called on the ERC to publish the bid prices to allow the auction to proceed.

Energy Secretary Raphael Lotilla assured the senator that the DoE is coordinating with the ERC for the timely issuance of the GEAR prices, which set the maximum price for the auction.

The GEA-3 aims to increase the country's clean energy sources and is scheduled for completion this year. The previous two rounds of auctions generated a total of 5,306 megawatts (MW) of renewable energy commitments.

Also, the DoE attributed the lower investor turnout during GEA-2 to factors like supply limitations, low incentives, delays in grid impact studies, and the high cost of financial guarantees.

GEA-3 will focus on non-feed-in-tariff (non-FIT) renewable energy technologies, including geothermal, impounding hydro, and pumped storage hydro. It will also include run-of-river hydro, which qualifies for FIT incentives.

The estimated capacities for non-FIT technologies are 699 MW from impounding hydro, 3,120 MW from pumped storage hydro, and 380 MW from geothermal. Impounding hydro and pumped storage hydro projects are expected to deliver power between 2028 and 2030, while geothermal capacity is targeted for 2024 to 2030.

For run-of-river hydro, around 200 MW will be auctioned, with delivery expected between 2026 and 2028.

In a related development, ERC officer-in-charge Jesse Andres vowed to speed up regulatory processes to ensure a level playing field for stakeholders and protect consumer interests. He emphasized the commission's commitment to fair and independent application of the law.