Customers of the Manila Electric Company (Meralco) could receive refunds on P9.8 billion that Meralco was overcharged by the Power Sector Assets and Liabilities Management Corp. (PSALM) from June 2006 to August 2012 next month if the Energy Regulatory Commission promulgates a refund order in time.
ERC executive director Francis Juan said in a DZMM report that the order just needs the signatures of commission members who took part in deliberations. If the order is promulgated within the month, electricity bills in May should already reflect the refund. Consumers will not be receiving money, however. The refund will simply be credited to their accounts.
The ERC decided in 2010 that state-owned PSALM double-charged Meralco on transmission costs.
