Meralco customers in for a refund
The Energy Regulatory Commission (ERC) has directed Manila Electric Co. and other private distribution utilities to refund as much as P0.08 per kilowatt hour to consumers.
In a statement, the ERC said all electricity distributors need to return the unused Regulatory Reset Cost in utility bills, with interest, effective July 2019.
“The Commission is of the view that the cost of regulation should be at the expense of the government and should not be a burden to the electricity consumers. The amount collected as Regulatory Reset Cost for the 3rd Regulatory Period remained unused and inasmuch as the 17th Congress appropriated funds for purposes of regulatory reset, the Commission deems it prudent to refund the amounts collected by DUs for this purpose,” ERC chair Agnes Devanadera said.
The regulatory reset cost covers expenses used for tapping experts or consultants in updating the monthly power rates of these electricity providers.
The refund will range from P0.04 to P0.08 per kilowatt hour, with Meralco customers expected to enjoy at least P0.0731 per kWh refund.
“Electricity consumers of privately-owned distribution utilities are advised to check their electricity bills next month and find out if the Regulatory Reset Cost refund has been effected, including any relevant interest earned thereon,” the ERC added.