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Manila Bulletin devider Business devider Meralco awaits ERC decision on consumer refunds

Meralco awaits ERC decision on consumer refunds

Published Oct 30, 2024 12:25 am

The Manila Electric Company (Meralco) is expecting an official decision from the Energy Regulatory Commission (ERC) regarding the first three-year refund and approval for the next regulatory period.

In a briefing on Monday, Oct. 28, Meralco Senior Vice President Jose Ronald Valles estimated a P16 billion refund for the first three years of the fifth regulatory period (5RP), which would provide relief to consumers.

The ERC’s official decision would enable Meralco to organize the rebates for any excess rate charges. 

“Several weeks ago, I heard the ERC chairperson, Monalisa Dimalanta, mention on TV that there was already a decision on our 5RP, and the ERC supposedly ruled that the entire fifth regulatory period is now considered lapsed. We are expecting to receive the official decision at any time so that we can begin preparing for the sixth RP and the corresponding refund for the average weighted actual costs,” he elaborated.

“We had a previous refund related to the Actual Weighted Average Tariff (AWAT), which was about P40 billion—this would be similar. Since the entire four-year period of the 5RP is considered lapsed,” Valles stated.

He emphasized the need for the official regulatory order to initiate the reimbursement process and prepare for the sixth regulatory period (6RP). Meralco explained that they need to start preparations as early as possible to stay on track with the 21-month preparation period. Without this order, further delays could hinder Meralco’s operations.

“The 6RP will commence in July 2026. If you count, that gives us 21 months. So as early as October, we should be preparing.”

Related Tags

Energy Regulatory Commission Meralco refund Manila Electric Co. (Meralco)
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