The Energy Regulatory Commission (ERC) will need to revisit and review a few matters with power distribution giant Manila Electric Company (Meralco) regarding its fifth regulatory period (5RP) as it said that they were expecting a refund approval last week.
During a media briefing, reinstated ERC Chairperson Monalisa Dimalanta said that they will announce their decision on the average distribution rate soon, but was not aware of Meralco’s rebates.
Before her return to the commission, Dimalanta mentioned that Meralco’s fifth Regulatory Period had already been discussed in the Senate and that decisions had been made, but they had not yet been officially announced.
“Since it’s discussed at the Senate [and] the commission, I understand they have decided to revisit this matter and have made some modifications the way forward,” she said.
Dimalanta noted that the ERC voted 3-2 which would consider Meralco’s 5RP reset as lapsed, retaining its average rate of P1.35 per kilowatt-hour (kWh).
“At that time, we haven’t discussed any refunds… As far as I know, they haven’t sent a formal filing for this.”
Last week, Meralco shared that it is only waiting for the ERC to make a move on the first three-year refund and approval that would help consumers with their billings.
Meralco Senior Vice President Jose Ronald Valles estimated that the company would provide P16 billion in refunds for the first three years of the 5th Regulatory Period, as the reimbursement process would only start with the ERC’s go signal.
He also expressed hope to expedite this process as they prepare for the next regulatory period, given that there is a 21-month preparation. If no orders were made, Meralco may face consequential delays.
However, Dimalanta told reporters that she would meet with the previous ERC chief Jesse Andres regarding the rebates.