ERC Releases Final GEAR Prices For Round 2 Green Energy Auction In The Philippines

Representational image. Credit: Canva

The Energy Regulatory Commission (ERC), released the Final 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 ResourcesFinal GEAR2 Price (Php/kWh)
Ground-mounted solar4.4043
Rooftop solar2.8738
Floating solar5.3948
Onshore Wind5.8481
Biomass Waste-to-Energy6.2683

After thorough and due deliberation, and after careful consideration of the various views and comments submitted by stakeholders, and guided by the policy objectives in the EPIRA and the RE Act of 2008, the Commission, on 14 June 2023, approved the Final Green Energy Auction Reserve (GEAR) Prices for the second round of Green Energy Auction.

‘The issuance is pursuant to DOE’s Department Circular No. DC2021-11-0036, 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.

Also Read  Turkcell Group Aims To Achieve 100% Renewable Energy Consumption By 2030

‘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:

2024 (IN MW)2025 (IN MW)2026 (IN MW)Total (IN MW)
Solar – Ground2,0252,1402,5506,715
Solar – Roof235260110605
Solar – Floating300300
Wind – on shore1,2001,1701,3503,720

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.