Here are a couple of benchmarks, in the Visayas, for capacity cost that are worth noting.
A few weeks ago, the ERC released a Decision in regards to the price of power from the 12.5 MW Nabas bunker-fired diesel plant in Aklan. In that Decision they established that the price of Nabas capacity should be set at P628/kW-month on a levelized basis.
In a number of Decisions regarding the Kepco/Salcon coal-fired plant being constructed on Cebu, they ruled that the capacity price of that plant be set at a value that is continuously adjusted by the Peso/Dollar exchange rate. I track that formulaic methodology each month, as indices are updated. Based on my latest tracking model, the cost of the coal-fired capacity is currently set at P1,552/kW-month.
I arrived at at the figure by taking the $71,301,000 figure in cell Y15 for the Return on Total Investment, multiplied by the exchange rate and divided by the 180 MW net capacity.
I like to look at capacity price in US$/kW-Yr, so summarizing:
As a side diversion, what will the the cooperatives be paying, in total, for the Kepco/Salcon power, fuel and all? Well my tracking model estimates that at P5.40/kWh if the plant went commercial today (Nov-09) and was able to produce power at an 80% capacity factor.