Power

ERC approves P13.8B Meralco refund

Power consumers can expect an average refund of P0.1528 per kilowatthour next month after the Energy Regulatory Commission (ERC) approved P13.885 billion worth of refund to Manila Electric Co. (Meralco).

“The commission approved Meralco’s prayer for the issuance of a provisional authority in order to allow their customers to immediately enjoy the benefits of the proposed refund and provide immediate rate relief especially during this time of pandemic,” ERC chairperson Agnes VST Devanadera said in a statement.

READ: SMC offers lowest bids for Meralco’s 1,800 supply deal

“As regulator of the electric power industry, the Commission in determining its actions on applications filed before it, has the consumer welfare as its primary consideration, thus, our decision to immediately authorize the refund. We hope that the reduction in rate could help our consumers cope with the still ongoing pandemic,” said Devanadera.

READ: DQed power firms could delay Meralco’s 1,800-MW supply deal award

ERC also directed Meralco to reflect the refund as a separate line item in the bills of its customers during the refund period.

READ: Consumer group backs Meralco refund petition

“With the petition we filed, Meralco hopes to put the PBR(Performance Based Regulation) mechanism back on track, that we appreciate the provisional approval and that we will follow the order as this will provide much needed relief to our customers”, said Joe Zaldarriaga VP for Corporate Communications.

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