Meralco seeks ERC nod on P9-B refund
Manila Electric Co. (Meralco) hopes to secure regulator clearance to refund more than P9 billion to customers following a true-up calculation for the 2025 lapsed period.
Based on separate filings with the Energy Regulatory Commission (ERC), the country’s biggest power distributor proposed two refunds. One is about P4.69 billion for the lapsed period January to June 2025. The other is P4.32 billion for July to December 2025.
This could provide a small relief in power rates of around P0.09 per kilowatt-hour for residential customers.
The possible implementation, which would reflect as a separate line item in the power bill, is eyed over three years.
The true-up calculation shows the gap between Meralco’s actual weighted average tariff and the regulator-approved rate for the period under review.
A lapsed period, meanwhile, refers to the duration since the previous rate update, potentially affecting the pricing and revenue of regulated entities, such as Meralco.
During this period, consumers are charged using outdated rates, which may no longer reflect the current costs of the service as the company awaits new tariff adjustments.
According to a notice dated April 1, regulators set hearings next month for the determination of jurisdictional compliance, expository presentation and pre-trial conference on Meralco’s applications.
“Meralco shall guarantee that, during the conduct of the expository presentation, the participation of the public shall not be impaired,” the ERC said.
While under review, Meralco sought a provisional authority to immediately implement the said refund.
