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MANILA, Philippines — More than 8 million consumers of Manila Electric Co. (Meralco) are poised to benefit from a slight reduction in electricity costs with the rollout of a P9.5-billion refund.
In its decision dated July 31, the Energy Regulatory Commission (ERC) ordered the company to refund the equivalent rate of P0.3448 per kilowatt-hour (kWh) within six months as a separate line item in consumers’ electricity bills.
ERC Chair and CEO Francis Saturnino Juan said the implementation would begin in the next billing cycle.
Under a rate reset process, a regulated entity such as Meralco must submit to the ERC its spending and proposed projects over a period, usually five years, unless extended by the regulator. This will then be the basis of the rate that will be passed on to consumers.
