02/19/2021 | Press release | Distributed by Public on 02/19/2021 01:44
ERC Orders MERALCO to Refund PhP13.9 B
'The Commission approved MERALCO's prayer for the issuance of a provisional authority in order to allow their customers to immediately enjoy the benefits of the proposed refund and provide immediate rate relief especially during this time of pandemic,' said ERC Chairperson and CEO Agnes VST Devanadera.
In its Order, the ERC emphasized that it limits such provisional authority only to the refund of the amount as applied by MERALCO. Except for authorizing the refund as applied, all other allegations, assumptions, and computations made in the instant Application are still subject to the ERC's extensive evaluation and pertinent rules on the matter.
Further, ERC also directed MERALCO to reflect the refund as a separate line item in the bills of its customers during the refund period, which shall be as follows:
MERALCO, in its application, sought the ERC's confirmation of its actual Weighted Average Tariff (AWAT) as against the ERC-approved Interim Average Rate (IAR) to determine if there are any over or under recovery.
'As regulator of the electric power industry, the Commission in determining its actions on applications filed before it, has the consumer welfare as its primary consideration, thus, our decision to immediately authorize the refund. We hope that the reduction in rate could help our consumers cope with the still ongoing pandemic.' ERC Chair Devanadera added.