PSALM spearheads discussion with RE developers on Universal Charge for Missionary Electrification - Renewable Energy Developers’ Cash Incentive (UCME–REDCI)
The Power Sector Assets and Liabilities Management (PSALM) Corporation, through its Universal Charge and Accounts Management Department (UCAMD), recently convened a meeting with various renewable energy (RE) developers in the missionary areas to discuss the issues and concerns relative to their claims from the UCME-REDCI fund.
The meeting, held on 09 August 2024 at the PSALM office, aimed to enhance understanding of the key provisions of Energy Regulatory Commission (ERC)Resolution No. 7, Series of 2014 (“Cash Incentive Rules”) and related ERC decisions. The representatives from the RE developers operating in the missionary areas, such as Romblon Electric Cooperative, Inc. (ROMELCO), Oriental Mindoro Electric Cooperative, Inc.(ORMECO), Sunwest Water and Electric Company, Inc. (SUWECO), Philippine Hybrid Energy Systems, Inc. (PHESI), Ormin Power, Inc. (OPI), SUWECO TablasEnergy Corp. (STEC), FP Island Energy Corporation, and Catuiran Hydropower Corporation were apprised of PSALM’s manifestation filed before the ERC.
Moreover, PSALM highlighted the status of the UCME-REDCI fund balance, its expected or estimated shortfall as of 31 December 2024, and the basis for prioritizing the disbursement of claims in case of a shortfall in the UCME-REDCI fund. The meeting also addressed procedural clarifications and provided a platform for the RE developers to voice their queries and concerns. Likewise, it sought the RE developers’ support in addressing the problem and encouraged them to actively participate in the hearings conducted by the ERC on NPC’s petitions for UC-ME that include the REDCI.
Section 15(h) of Republic Act (RA) No. 9513, also known as the Renewable Energy Act of 2008, mandates that an RE developer, established after the effectivity of this Act, shall be entitled to a cash generation-based incentive per kilowatt-hour rate generated, equivalent to fifty percent (50%) of the UC for power needed to service RE areas where it operates the same, to be chargeable against the UCME.
PSALM remains dedicated to ensuring the efficient administration of the UC funds pursuant to the Electric Power Industry Reform Act (EPIRA) and its Implementing Rules and Regulations (IRR). PSALMfully supports measures that advance the renewable energy agenda, as well as incentives that effectivelyaid the development of sustainable energy solutions in missionary areas.
PSALM spearheads discussion with RE developers on Universal Charge for Missionary Electrification - Renewable Energy Developers’ Cash Incentive (UCME–REDCI)
The Power Sector Assets and Liabilities Management (PSALM) Corporation, through its Universal Charge and Accounts Management Department (UCAMD), recently convened a meeting with various renewable energy (RE) developers in the missionary areas to discuss the issues and concerns relative to their claims from the UCME-REDCI fund.
The meeting, held on 09 August 2024 at the PSALM office, aimed to enhance understanding of the key provisions of Energy Regulatory Commission (ERC)Resolution No. 7, Series of 2014 (“Cash Incentive Rules”) and related ERC decisions. The representatives from the RE developers operating in the missionary areas, such as Romblon Electric Cooperative, Inc. (ROMELCO), Oriental Mindoro Electric Cooperative, Inc.(ORMECO), Sunwest Water and Electric Company, Inc. (SUWECO), Philippine Hybrid Energy Systems, Inc. (PHESI), Ormin Power, Inc. (OPI), SUWECO TablasEnergy Corp. (STEC), FP Island Energy Corporation, and Catuiran Hydropower Corporation were apprised of PSALM’s manifestation filed before the ERC.
Moreover, PSALM highlighted the status of the UCME-REDCI fund balance, its expected or estimated shortfall as of 31 December 2024, and the basis for prioritizing the disbursement of claims in case of a shortfall in the UCME-REDCI fund. The meeting also addressed procedural clarifications and provided a platform for the RE developers to voice their queries and concerns. Likewise, it sought the RE developers’ support in addressing the problem and encouraged them to actively participate in the hearings conducted by the ERC on NPC’s petitions for UC-ME that include the REDCI.
Section 15(h) of Republic Act (RA) No. 9513, also known as the Renewable Energy Act of 2008, mandates that an RE developer, established after the effectivity of this Act, shall be entitled to a cash generation-based incentive per kilowatt-hour rate generated, equivalent to fifty percent (50%) of the UC for power needed to service RE areas where it operates the same, to be chargeable against the UCME.
PSALM remains dedicated to ensuring the efficient administration of the UC funds pursuant to the Electric Power Industry Reform Act (EPIRA) and its Implementing Rules and Regulations (IRR). PSALMfully supports measures that advance the renewable energy agenda, as well as incentives that effectivelyaid the development of sustainable energy solutions in missionary areas.
Back