Meralco ordered to refund P9.5 billion to consumers

MANILA, Philippines — More than 8 million consumers of Manila Electric Co. (Meralco) are poised to benefit from a slight reduction in electricity costs with the rollout of a P9.5-billion refund. In its decision dated July 31, the Energy Regulatory Commission (ERC) ordered the company to refund the equivalent rate of P0.3448 per kilowatt-hour (kWh). Meralco is the country's largest power distributor, supplying electricity to Metro Manila and surrounding areas. The refund is expected to provide some relief to consumers who have been contending with rising electricity prices. The ERC's order stems from its review of Meralco's past rate adjustments, which it found to have included overcharges. This decision underscores the ERC's role in safeguarding consumer interests and ensuring that electricity rates are just and reasonable. The commission regularly scrutinizes the financial performance and rate-setting practices of power utilities. Consumers are advised to await further announcements from Meralco regarding the implementation details of the refund, including the specific period covered and the method of disbursement. Source: Inquirer NewsInfo