The Energy Regulatory Commission has directed Meralco to refund customers. INQUIRER FILE PHOTO
MANILA, Philippines – The Energy Regulatory Commission has directed Manila Electric Co., the country’s largest private electric utility, to “immediately” refund some P20 billion to its consumers.
This is equivalent to an average refund of P0.1189 per kilowatt hour (kWh) across customer classes, according to a statement released by the ERC on Friday.
READ: ERC vows ‘no further delays’ in Meralco rate reset
The refund – which should be implemented within three years – represents the difference between the actual average prices charged by Meralco and the highest allowable costs that consumers should have paid from July 2022 to December 2024.
Meralco’s franchise area covers Metro Manila, Bulacan, Cavite, Rizal, and select areas in Pampanga, Laguna, Batangas and Quezon.