MANILA, Philippines — Customers of power distributor Manila Electric Co. (Meralco) can expect a refund of about P19.1 billion once the Energy Regulatory Commission (ERC) approves its application.
Meralco is set to file a refund application before the ERC in compliance with the regulator’s order last month declaring July 2022 to June 2025 as a lapsed period.
Under its proposed refund scheme, Meralco wants to implement the refund within 36 months, equivalent to around P0.19 per kilowatt-hour (kWh) reduction for residential customers.
“The total proposed amount covers the difference between Meralco’s actual weighted average tariff and the last approved rate of P1.35 per kWh from July 2022 to December 2024,” Meralco said.
“It will be up to the ERC to accept, approve or modify this application,” it noted.
Meralco said there was “no completed rate reset” during the July 2022-June 2025 period, which was supposedly under its fifth regulatory period.