Metro Manila, May 5 ------ The Energy Regulatory Commission (ERC) has directed Manila Electric Co. (Meralco) to refund P7.75 billion worth of excess collections to its residential customers.
ERC's order instructs Meralco to refund a total of 7,755,444,758 worth of overcharges to its residential customers beginning this month of May and for a period of 12 months, which is equivalent to 46.69 centavos per kilowatt hour (kWh). In other words, it is equivalent to a P93 refund for a residential customer consuming 200 kWh. The demand came from ERC's review of Meralco's regulatory asset base for the period of 2012 to 2015.
"The ERC's review and true-up of MERALCO's regulatory asset base (RAB) resulted in a reduction of MERALCO's previously approved RAB for the 3rd regulatory period," ERC Commissioner Rexie Digal said. Meralco's vice president and corporate communications head Joe Zaldarriaga confirmed the receipt of ERC's order dated March 8 regarding the refund of distribution-related charges. He said the refund will be shown in the power bills beginning this May. "The refund, which is P0.47 per kWh for residential customers, will appear as a separate line item in the power bills starting May," Zaldarriaga said
Source: cnnphilippines.com
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