Meralco to heed CA’s order on P5B refund
MANILA, Philippines – The Manila Electric Company (Meralco) said it will abide by the Court of Appeals (CA) order to refund its customers P5 billion ($111.79 million*).
The utility firm will recover that amount from the National Power Corporation (NPC) and the Power Sector Assets and Liabilities Management Corporation (PSALM).
CA said the customers were “doubly charged” for transmission line costs they were forced to pay.
Both NPC and PSALM were ordered to refund Meralco a total of P5,176,147,098.73 ($115,701,711.54) from the November 2006 to August 2012 period.
The CA’s decision affirms the ruling of the Energy Regulatory Commission (ERC) on the refund of transmission line loss charges, which is a welcome relief to Meralco's consumers, Meralco first vice president and legal services head, William S. Pamintuan said.
“Meralco shall abide and comply with any executable order from the court or the ERC in this regard," Pamintuan said.
The refund due the customers will be received through automatic reduction of the monthly generation charge that they pay in their electricity bills.
The monthly generation charge is the largest component in your monthly electricity bill. – Rappler.com
$1 = P44.74