ERC sets final ceiling price for green energy auction

By Lenie Lectura

THE Energy Regulatory Commission (ERC) has issued the final Green Energy Auction Reserve (GEAR) prices for the second round of the Green Energy Auction (GEA2).

“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 Renewable Energy Act of 2008, the Commission, on

June 14, 2023, approved the Final Green Energy Auction Reserve [GEAR] Prices for the second round of Green Energy Auction,” the agency said in a statement released Thursday night.

For rooftop solar, the ERC has set the price at P4.8738 per kilo - watt (kWh) hour; P4.4043 per kWh for ground-mounted solar; P5.3948 per kWh for floating solar; P5.8481 per kWh for onshore wind; P5.4024 per kWh for biomass; and P6.2683 per kWh for biomass waste-to-energy.

The ERC adjusted the rates following various concerns raised by renewable energy developers. For instance, the Philippine Solar and Storage Energy Alliance (PSSEA) said the GEAR price for floating solar must be significantly higher than ground-mounted.

It asked the ERC to consider its proposed P7.3661 per kWh for solar PV on water.

Compared to ground-mounted solar, PSSEA said floating solar incurs at least 20 percent higher project cost. It urged the ERC to set a floating solar GEAR price that is reflective of the cost incurred in the entire value chain. The previous GEAR prices for GEA2 released by the ERC last month are as follows: For rooftop solar, it’s P4.7156 per kWh; P4.2395 per KWh for ground-mounted solar; P4.7565 per kWh for floating solar; P5.9823 per kWh for wind; P5.1475 per kWh for biomass; and P6.4698 per kWh for waste-to-energy. Under the terms of reference (TOR) for the second round of the GEA, the total auction capacity requirement for 2024 is targeted at 3,600 megawatt (MW). Of which, 2,400MW is allotted for Luzon auction, 870MW for Visayas, and 330MW for Mindanao. In terms of technology, ground-mounted solar is capped at 2,025MW; 235MW for rooftop solar; 1,200MW for offshore wind, and 140MW for biomass.

The auction for GEA2 was supposed to happen on June 19. However, the Department of Energy (DOE) has rescheduled “to give bidders more time to deliberate,” according to energy Undersecretary Felix William Fuentebella.

At the time when the DOE announced the postponement of the auction, the ERC has yet to release the final GEAR prices. “Consequently, the auction proper including its preparatory [i.e., submission of proof of posting of bid bond] and subsequent activities under GEA-2 shall only be conducted upon the release of the Green Energy Auction Reserve Prices by the Energy Regulatory Commission,” the DOE advisory read.

Sen. Tolentino says 10 doctors needed for every 10K Filipinos

By Butch Fernandez

SENATOR Francis Tolentino raised the alarm Friday over the growing gap between the country’s requirement for health workers and what it actually has.

Speaking before the 93rd National Assembly of the League of Vice Governors of the Philippines in Baguio City, Tolentino reminded concerned authorities that the country “needs 10 doctors for every 10,000 Filipinos.”

T he senator stressed the urgent need for the country to have a more accessible health program, ruing that doctor shortage remains one of the main concerns in the Philippines.

As days go by, the population of local physicians continues to shrink as many among their ranks seek greener pastures overseas,” Tolentino said.

The current medical situation in the Philippines right now is below the threshold… mas marami pa pong sinisilang kaysa sa ating mga pediatricians,” notes Tolentino, adding that the country only has around 169,000 physicians for the population of more than 101 million.

O f the said figures, the senator added that only about 49 percent are currently active in the local medical profession.

A s of now, Tolentino was told there are only four doctors for every 10,000 Filipinos, adding, “Wala po tayong (halos) surgeons. 0.2 percent lang ang surgeons natin,” he stressed. A ccording to Tolentino, the country needs at least “10 doctors for every 10,000 Filipinos” to have an accessible medical health care in the country.

To address this critical challenge, Tolentino urged the Professional Regulation Commission (PRC) and members of Congress “to open their minds” by allowing the amendment of Republic Act No. 8981 or the PRC Modernization Act of 2000 to authorize foreign licensed doctors to practice locally in various parts of the country for a longer period.

Tolentino stressed that foreign doctors “can strategically be placed in the underserved areas, providing the muchneeded medical services” along the countryside, especially in long-neglected communities.

“ Through this approach, it will ensure that every Filipino regardless of geographical locations will have access to competent health-care professionals. ‘ Yun po ang kulang natin,” the senator explained.

H e added that even if the government continues to construct additional health facilities, the dream of having an accessible health-care program couldn’t be achieved if the shortage of doctors won’t be addressed immediately.

Alsons lists ₧1.38B of ₧3-B CP program with PDEx

ALSONS Consolidated Resources Inc. (ACR) has listed with the Philippine Dealing and Exchange Corporation (PDEx) the second tranche of P1.38 billion of its P3-billion commercial paper (CP) program. The first tranche of P620 million was listed in December of 2022. Proceeds from the issuance will be used primarily for general working capital purposes.

The Alcantara-led group is now focused on building up its renewable energy capacity in the next few years, with around several hydroelectric and solar power facilities in the company’s pipeline. The first of these renewable energy plants is the 14.5 megawatt (MW) Siguil Hydro power plant currently under construction in Maasim, Sarangani Province, which is targeting to begin operations before the end of 2023.

“Consistent with our concern for the environment, we are deliberately moving into renewable energy for our capacity expansion. Our next major projects will use run of river hydro, and solar power… Although we continue to rely on our fossil fuel fired baseload plants for reliability and cost considerations, in time we expect to increase the contribution of renewable sources to at least 50 percent of our energy mix to lead to a reduction of our carbon footprint,” said ACR Executive Vice President and Chief Executive Officer Tirso G. Santillan.

ACR earlier this year, sustained its issuer credit rating of PRS Aa minus (corp.) with a Stable Outlook from the Philippine Rating Services Corporation (PhilRatings). The rating was made in relation to ACR’s issuance of up to P3.0 billion in CP.

According to PhilRatings, a company with a PRS Aa rating “has a strong capacity to meet its financial commitments relative to other Philippine corporates.” The rating agency assigns a Stable Outlook when a rating is likely to be maintained or to remain unchanged in the next twelve months.

ACR is Mindanao’s first private sector power generator providing electricity to over 8 million people in 14 cities and 11 provinces in the country’s second largest island. The company currently has a portfolio of four power plants in Mindanao with a total capacity of 468 MW. Lenie