MORE Power begins 2nd round of deposit refunds to consumers in Iloilo City
MANILA, Philippines — MORE Electric and Power Corp. has begun distributing the second round of bill deposit refunds to its local consumers in Iloilo City this month.
In a statement, MORE Power said it expects to return the bill deposits of 65 eligible customers by the end of July.
Last May, the company said three eligible clients received P9,000 total refund in bill deposits, and 20 consumers got P65,500 the previous month, adding that around 777 more clients have yet to receive deposit refunds for the remaining months of 2023.
According to MORE Power President and chief executive officer Mr. Roel Castro, these bill deposit refunds are not rewards but the consumers’ rights as stated under the Magna Carta for Residential Consumers.
“We have implemented this program in strict compliance with the law. The bill deposit does not belong to us; it rightfully belongs to our consumers. We are dutifully fulfilling our responsibility by returning what is rightfully theirs,” Castro said.
A bill deposit is similar to a security deposit required from all consumers upon applying for their electricity service. The amount charged to consumers is equivalent to their estimated electricity consumption for a month upon their application.