ERC orders Meralco P19.958B refund over three years

The Energy Regulatory Commission (ERC) has ordered Manila Electric Company (Meralco) to refund P19.958 billion to its customers over a three-year period starting from the next billing cycle.

This refund, which accounts for Meralco's over-recovery of rates from July 2022 to December 2024, will be reflected as a separate line item on bills labeled 'AWAT (Refund)/Collect'.

ERC Chairperson Monalisa Dimalanta and Commissioner Catherine Maceda dissented, arguing that a shorter refund period could have benefited consumers more by yielding a larger refund amount per consumer and addressing over-recovery sooner.

The refund translates to P0.1189 per kilowatt hour on average, with higher rates for specific customer classes such as residential and general service A at P0.2024 per kWh.

Energy consumer advocacy groups have criticized the long refund period, stating it allows Meralco to charge consumers excessively without immediate accountability.