Regulators order 3 power firms to return P293.89M in overcharges
MANILA, Philippines — The Energy Regulatory Commission (ERC) ordered three power firms to refund a total of P293.89 million in overcharges to their respective customers, based on notices of resolution.
The over-recoveries were incurred during various billing periods from 2004 to 2017, ERC said in an e-mailed statement on Tuesday.
ERC explained that it issued separate notices of resolution to Ceneco (Central Negros Electric Cooperative, Inc.), Panelco I (Pangasinan I Electric Cooperative, Inc.) and Lueco (La Union Electric Company, Inc.) so that they can already work on the refunds.
Of the P292.89 million total, Ceneco was ordered by the commission to return P237.95 million for overcharges incurred from Feb. 2004 to Dec. 2017. Meanwhile, Panelco I was directed to refund P24.90 million and Lueco was tasked to return P31.04 million, both incurred from January 2014 to December 2016.
“The Commission issues the notice of resolution so that the concerned DUs (distribution utilities) can already reflect the necessary bill adjustment and the consumers, in turn, will immediately benefit from the refund, considering the time between the approval of the Commission and the promulgation the official Decision. The relevant formal Decision will be issued as soon as possible," ERC Chairperson and Chief Executive Officer Agnes Devanadera said.
The distribution utilities need to submit a monthly report of the refund's progress until the amount has been fully returned to their customers.
Earlier this month, ERC ordered power provider Manila Electric Co. (Meralco) to refund P7.76 billion in over-recoveries to its consumers starting May, which translates to P93 for residential households consuming 200 kilowatt-hour. The refund will take place over a period of 12 months.
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