Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

ERC proposes voluntary scheme for net metering

ROBERT LINDER-UNSPLASH

THE Energy Regulatory Commission (ERC) said it is proposing to make the installation of renewable energy certificate (REC) meters voluntary.

This was among the amendments the ERC is proposing to Resolution No. 6, Series of 2019, or the Resolution Adopting the Amendments to the Rules Enabling the Net-Metering Program for Renewable Energy.

“The installation of the REC meter shall be voluntary. The DU (distribution utility) shall be entitled to an RE certificate resulting from the net-metering arrangement,” the commission said.

It said that an REC must be based on the gross generation as measured through the REC meter and must be credited as compliance with the DU’s obligations under the Renewable Portfolio Standards (RPS).

RECs are issued to participants in the RPS scheme, indicating the energy sourced, produced, and sold or used is from eligible RE systems.

Net metering allows power users that generate their own electricity via RE to sell some of their excess output to the grid, with the proceeds credited against their power bills.

Under RPS, DUs, electric cooperatives, and retail electricity suppliers are required to source a portion of their energy supply from eligible RE sources.

Among other key amendments being considered by the ERC are allowing the banking of net-metering credits for transfer in case property ownership changes.

In such instances, the credits accrued by the original property owner will be transferred to the new owner, provided they are compliant with the requirements, which may include a new net-metering agreement with the DU.

“To improve transparency, the ERC also proposes to mandate DUs to prominently display on their websites an itemized breakdown of their generation charges, along with their hosting capacities. These capacities must be delineated on both a substation and per-feeder basis, using a format prescribed by the Commission,” the commission said.

The ERC is inviting comment on the draft amendments by Jan. 17. — Sheldeen Joy Talavera

    You May Also Like

    Finance

    Homebase is set to return in a slimmed-down format after the DIY chain’s collapse last month, with its new owner CDS confirming plans to...

    Stock Markets

    The First Philippine Polymer Banknote Series is composed of the 1000-piso polymer banknote, as well as new polymer denominations: 500-, 100-, and 50-piso. —...

    Stock Markets

    When it comes to providing accommodations that have all the makings of a second home in the best Philippine destinations, Astoria Hotels and Resorts...

    Stock Markets

    No plan? No problem, as Absolut Vodka & SPRITE transforms the Philippines pulling off for the ultimate, unplanned hangout — celebrating the arrival of...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.