Meralco awaits ERC decision on potential $322M refund for customers due to 5RP rate reset.
Meralco, the Philippines' largest power distributor, may refund about PHP 16 billion (approximately $322 million) to its customers pending a decision from the Energy Regulatory Commission (ERC) on its fifth regulatory period (5RP) rate reset. If deemed a "lapsed period," the ERC could confirm a lower rate of PHP 1.3522 per kilowatt-hour, leading to refunds for excess charges. The next rate reset for the sixth regulatory period (6RP) is set for July 2026.
October 29, 2024
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