Business

The ERC issues rules on the green energy option scheme

Electricity consumers with a maximum demand of at least 100 kilowatts may soon choose to choose renewable energy plants as their energy source, as the Energy Regulatory Commission (ERC) has issued the rules for the Green Energy Option Program (GEOP). the technical and interconnected standards and cycling fees for renewable energy-based power generation plants.

The rules are described in ERC Resolution No. 8, Series 2021, which is dated 22 April but only published on 16 August. It will be in force two weeks after it has been published in a regular edition newspaper.

“In the long run, GEOP will help us achieve energy dependency as it reduces our dependence on imported energy sources,” ERC President Agnes Devanadera said in a statement.

Apart from consumers with a maximum demand of 100 kw in the last 12 months – probably companies – end-users who are eligible for GEOP are those who have been in operation for less than a year when the rules come into force.

In a related development, the Ministry of Energy (DOE) expects within this month to complete the new guidelines for the Green Energy Auctions (GEAP) program as well as amendments to the implementing provisions of the Renewable Energy Act after conducting public public consultations online on 5-6. August.

GEAP covers electricity generation companies seeking to participate in the market as suppliers to consumers who are qualified for GEOP.

“We have decided to provide a more practical, proven and efficient framework to facilitate increased investment in renewable energy capacity through a level playing field that would result in the achievement of transparent and competitive pricing,” said Mylene Capongcol, Director of Renewable Energy Management Bureau.

Capongcol said the purpose of the new GEAP guidelines was to “provide immediate and timely investment, support the development of and increase access to finance for new or additional capabilities during a competitive process.”

The DOE expects to be able to complete the first round of competition bids in October.

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