Meralco to refund P16B to consumers

Power distributor Manila Electric Co. (Meralco) has estimated around P16 billion worth of refunds to consumers once the Energy Regulatory Commission (ERC) resolves its fifth regulatory rate reset.

- By Brix Lelis

"In our initial estimate for at least three years, that would be around P16 billion. So that's a big, big, big relief for consumers. That's why we want to have that closure already," Meralco senior vice president and head of regulatory management Jose Ronald Valles said.

He said the refund represents the difference between the actual weighted average price and the maximum average price, or the highest allowable costs that can be charged to consumers.