Meralco proposes P19-B refund to customers

Customers of the Manila Electric Company (Meralco) can expect a refund of around 19 centavos per kilowatt-hour (kWh) in the coming months, which the distributor plans to do over a 36-month period.

According to Meralco, its proposed P19-billion refund covers the difference between the company’s actual weighted average tariff, and the last approved rate of P1.36 per kWh from July 2022 to December 2024.

This would translate to a refund of 19 centavos per kWh for residential customers, with the prevailing rate at P11.7428 per kWh as of January 2025.

“It will be up to the ERC to accept, approve, or modify this application,” the statement read.

To recall, the ERC in December ordered Meralco to refund expenses related to the regulatory rate reset process, such as tapping technical experts.

Under a rate reset, entities are mandated to submit its spending and proposed projects to the ERC. The report would then be the basis for the distribution rate which would be charged to customers.

“(T)here was no completed rate reset during this period which was supposedly under the 5th Regulatory Period,” Meralco said in its statement.

Meralco constructs, operates, and maintains electric distribution systems in the cities and municipalities of Bulacan, Cavite, Metro Manila, and Rizal, as well as certain areas in the provinces of Batangas, Laguna, Pampanga, and Quezon.

The firm counts as subsidiaries and associates Vantage Energy Solutions and Management Inc. and MeridianX Inc., acting as retail electricity suppliers in Luzon and the Visayas. — RSJ, GMA Integrated News