The Energy Regulatory Commission (ERC) has firmed up the intricate ‘tariff-setting parameters’ or price determination methodology that will anchor the 20-year power supply agreements (PSAs) in the third Green Energy Auction (GEA-3) to be administered by the Department of Energy (DOE) - targeting 100 megawatts of geothermal and a robust 4,375...
Dec 22, 2024 08:20 PMERC Chairperson Monalisa C. Dimalanta indicated that the pricing parameters for geothermal as well as impounding and pumped storage hydro technologies will be released before Christmas; while those of run-of-river of hydro will be issued separately, pending final clarifications with the DOE on certain key issues.
ERC Chairperson Monalisa C. Dimalanta indicated that the pricing parameters for geothermal as well as impounding and pumped storage hydro technologies will be released before Christmas; while those of run-of-river of hydro will be issued separately, pending final clarifications with the DOE on certain key issues.
The debt repayment term, encompassing both local and foreign financing, has been structured with a 10-year grace period, while the financial modeling adheres to an average exchange rate of P57.1854 to US$1, reflecting the prevailing currency dynamics. Additionally, the contingency allowance has been fixed at a minimum of 5.0% of engineering, procurement, and construction costs, or 4.0% of the total project cost.
The cost for equipment, transportation to the project site, and balance of plant has been fixed at P263,052,840 per megawatt, while the investment required for switchyards and transformers hovers at P123,169,000; then for transmission interconnection, a 10-kilometer distance has been factored in, with an anticipated investment of P10,895,988 per km.
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