The government has tapped a third-party to audit the refunds made by the giant power distributor Manila Electric Co. (Meralco) in the past years.
The Energy Regulatory Commission (ERC) said Roxas Cruz Tagle and Co. submitted the most responsive and highest rated bid for this audit.
According to the agency, the audit will be done to ensure that Meralco’s refunds have been fully accounted for and returned to customers.
To recall, ERC earlier directed MERALCO to return P1.4 billion, which represents the amount overcollected from customers from 2017 to 2019 due to excess charges.
But at the same time, the regulatory agency also allowed the power distributor to recover P2.38 billion from the under-collection of its generation charge during the same period.
The initial impact of this order to residential customers is a net refund of around P0.115 per kWh, said Meralco.