ERC: Meralco's refund decision out next week

The Energy Regulatory Commission (ERC) is set to issue its decision on Manila Electric Co. (Meralco)'s P19-billion refund petition in the coming week, offering welcome relief to its customers.

- By BRIX LELIS

"We are targeting to release the order next week," ERC chairperson and CEO Monalisa Dimalanta said in a Viber message to The STAR.

This followed Meralco's refund application before the ERC last month in compliance with an earlier order that declared July 2022 to June 2025 as the power giant's lapsed period.

Meralco has proposed a refund of about P19.1 billion, which covers the difference between its actual weighted average tariff and the last approved rate of P1.35 per kilowatt-hour (kWh) from July 2022 to December 2024.

Under its proposed scheme, the company intends to implement the refund within 36 months or until fully refunded. This is equivalent to around P0.19 per kWh reduction for residential customers.