The order instructs Meralco to refund a total of 7,755,444,758 worth of overcharges to its residential customers beginning this month of May and for a period of 12 months, which is equivalent to 46.69 cents per kilowatt hour (kWh).
The Energy Regulatory Commission has directed Manila Electric Co. to refund ₱7.75 billion worth of excess collections to its residential customers.
ERC's order instructs Meralco to refund a total of 7,755,444,758 worth of overcharges to its residential customers beginning this month of May and for a period of 12 months, which is equivalent to 46.69 centavos per kilowatt hour .The demand came from ERC's review of Meralco's regulatory asset base for the period of 2012 to 2015.
"The ERC's review and true-up of MERALCO's regulatory asset base resulted in a reduction of MERALCO's previously approved RAB for the 3rd regulatory period," ERC Commissioner Rexie Digal told CNN Philippines in a Viber message.
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