MERALCO TO REFUND P19-B TO CUSTOMERS

CUSTOMERS of the Manila Electric Company (Meralco) can expect a refund in the coming months.

According to Meralco, their customers will get a refund of about P19.1 billion once the Energy Regulatory Commission (ERC) approves its application.

Meralco proposes to implement the refund for 3 years, credited to the bills of its customers. 

The refund is equivalent to around P0.19 per kilowatt-hour (kWh) reduction for residential customers.

According to Meralco, its proposed P19-billion refund covers the difference between the company’s actual weighted average tariff, and the last approved rate of P1.36 per kWh from July 2022 to December 2024.

 “It will be up to the ERC to accept, approve, or modify this application,” the Meralco statement read.

The ERC in December ordered Meralco to refund expenses related to the regulatory rate reset process, such as tapping technical experts.

Under a rate reset, entities are mandated to submit its spending and proposed projects to the ERC. The report would then be the basis for the distribution rate which would be charged to customers.

The electric power distribution company said there was “no completed rate reset” during the July 2022-June 2025 period, which was supposedly under its fifth regulatory period.

Meralco serves a large area of Luzon, including Metro Manila, and the Visayas, and also has subsidiaries involved in retail electricity supply.