Meralco to refund P19.9B to customers starting next month

Meralco has outlined its plan to refund customers P19.9 billion in overcharges accumulated between 2022 and 2024, with the refund process starting next month for both postpaid and prepaid consumers.

According to Meralco, residential customers will see a refund of P0.20 per kilowatt-hour (kWh) applied to their bills, while prepaid users will also receive deductions from their overall rates.

Meralco spokesperson Joe Zaldarriaga confirmed that around 100,000 prepaid consumers are entitled to the same refund and will be informed via text message soon.

The Energy Regulatory Commission (ERC) has mandated Meralco to implement these refunds immediately, starting with the next billing cycle.

ERC Chairperson Monalisa Dimalanta stated that the commission will carefully evaluate San Miguel Corporation's request for P34 billion in recovery of losses incurred due to rising coal prices, ensuring no additional burden on consumers.

The potential recovery of P34 billion follows a dispute over fixed contracts between SMC’s power plants and Meralco, with the Supreme Court previously ruling in favor of SMC.

The ERC emphasized its commitment to scrutinizing all costs to protect consumers and ensure fairness.