The Energy Regulatory Commission earlier this week ordered power company Meralco to return to customers some P1.4 billion in excess collections between 2017 and 2019.
This would be refunded to customers at an average rate of P.1331 per kilowatt hour (kWh) in a span of three months, until fully repaid.
The energy body said that these excesses were discovered in pass-through costs, namely transmission, system loss, lifeline subsidy and senior discount prices.
However, it was also found that Meralco under-collected approximately P2.38 billion in the generation rate. These will be charged to customers at P.0395 per kWh within 24 months until fully collected.
The ERC said that the longer under-collection period was to “protect the consuming public.”
Several months back, the power distributor was fined P19 million due to “bill shock” that customers experienced during the early months of the Covid19 lockdown.