ERC asked to finalize green energy auction reserve prices

The Senate asked the Energy Regulatory Commission (ERC) to finalize green energy auction reserve (GEAR) prices so that the auction of renewable energy

The Senate asked the Energy Regulatory Commission to finalize green energy auction reserve prices so that the auction of renewable energy could proceed this year.

“Our target for the Green Energy Auction 3 is to finish it before the end of the year such that the pumped storage hydro, 3,000 megawatts , will be able to come in five years from now,” Energy Undersecretary Rowena Guevara told senators. “One of the items required there would be the approved pricing methodologies with ERC. We’re coordinating that,” Lotilla said.

The DOE, however, received commitment for only 3,580.76 MW out of the 11,600 MW offered under the GEAR2.

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