THE Energy Regulatory Commission (ERC) ordered power distributor Manila Electric Co. (Meralco) on Friday to refund a total of P19.95 billion to its customers as a result of over-recovery of rates.
In an order issued also on Friday, March 14, the ERC granted provisional authority to Meralco to implement its proposed refund scheme over a period of approximately 36 months for a total of P19.95 billion, to account for Meralco's over-recovery of rates for the lapsed period from July 1, 2022 to Dec. 31, 2024.
