It appears so. Among the rules published by the Department of Energy are the so-called FIT System Rules. Sec. 2.7 of these Rules provides for a “pass-through” clause to protect the new RE producer from any adverse effect of changes in exchange rates or in the local cost of inputs. These pass-through adjustments are to be determined annually by the ERC.
A contrary answer may be had. RA 9513 does not explicitly provide for such pass-through adjustments, and it is well settled in the jurisprudence that implementing rules cannot add to the legislation they implement. It appears that the official implementing rules and regulations do not mention the pass-through clause but state that ERC will subsequently promulgate “FIT system rules.”