The Energy Regulatory Commission (ERC) released the Preliminary Green Energy Auction Reserve (GEAR) Prices for the Round 2 of the Green Energy Auction that will be conducted by the Department of Energy (DOE), for the following technologies:
|Renewable Energy Resource||Proposed GEAR2 Price (PhP/kWh)|
Preliminary GEAR Price for Waste-to-Energy, on the other hand, will be posted at a later time prior to the commencement of the public consultations.
The issuance is pursuant to DOE’s Department Circular No. DC 2021-11-0036, Providing the Revised Guidelines for the Green Energy Auction Program (GEAP) in the Philippines, where the ERC shall determine the GEAR Prices which are the maximum price offers in PhP/kWh that shall be used as the ceiling price in the auction.
The said GEAR prices or ceiling prices are applicable to the following capacities, as indicated in the Notice of Auction for the 2nd Round of GEAP, published by the DOE on 27 March 2023:
|2025(in MW)||2026(in MW)||TOTAL(in MW)|
|Solar – Ground||2,025||2,140||2,550||6,715|
|Solar – Roof||235||260||110||605|
|Wind- on shore||1,200||1,170||1,350||3,720|
The GEAR prices will help to promote the use of green energy in the country and encourage more investors to invest in renewable energy projects. The DOE expects to receive a good response from the investors in the upcoming auction.