Section 168 Electricity Act 2023
Section 168 of the Electricity Act 2023 is about Feed-in tariffs rates. It is under Part XVII (Renewable Energy and Energy Efficiency) of the Act.
(1) An electricity distribution utility shall not buy or negotiate a power purchase Feed -in tariffs rates agreement with a generator of electricity from renewable energy sources unless it is in accordance with guidelines provided by the Commission.
(2) The Commission shall prepare and provide public utilities with guidelines on the level of rates that may be charged by the public utility for electricity generated from renewable energy sources.
(3) The Commission shall take into account the —
(a) technology being used in the renewable energy industry;
(b) location of the generation facility;
(c) operating norms for the specific technology under consideration;
(d) costs associate with construction, commissioning, operation and maintenance of the plant;
(e) the reasonable rate of return; and
(f) the balance betwzen the interest of the consumer and the investor, in preparing the guidelines,
(4) The feed-in-tariff rate fixed for electricity from renewable energy sources shall be guaranteed for such a period as may be stipulated by the Commission.
(5) The Commission shell, in determining the mechanism for the regulated electricity market, factor into the tariff, the price differential between the purchase price of electricity generated from renewable energy sources and the price of electricity purchased from other sources.
