MANILA, Philippines — There is no definite computation yet as to the reported refund from Manila Electric Company (Meralco) to consumers, the Energy Regulatory Commission (ERC) said on Monday.
ERC Legal Service Director Krisha Marie Buela made the clarification following reports that Meralco would refund P16 billion to consumers.
Senator Raffy Tulfo during the Senate committee on public services which hears the power distribution company’s renewal of its 25-year franchise, asked about the reported refund.
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To which Buela responded: “So far, there are no definite computation if there is refund or not.”
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Meralco senior vice president and head of regulatory management Jose Ronald Valles said the P16 billion will be returned to consumers once ERC resolves its fifth regulatory rate reset, according to a newspaper report.
Buela clarified that the announcement did not come from the ERC, adding that the case is still pending before the commission.
“To my knowledge, the ERC has not issued any announcement for the refund of P16 billion,” she said.
Tulfo then said that the ERC should release an official statement “as soon as possible” to clarify the matter.
“For our poor countrymen, when they’ve heard of a refund, it will make them happy especially during this Christmas season,” Tulfo said.
“Now if this refund will not be given this Christmas, at least after Christmas, they have something to expect for,” the senator added.