Power retailer Manila Electric Co. filed an application with the Energy Regulatory Commission to collect from consumers P8 billion or equivalent to an increase in power rates of about P0.2191 per kilowatt-hour over a 12-month period.
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It will be unconscionable for ERC to grant this petition and immediately allow Meralco to charge the consumers immediately in the next few months when the ERC has not acted on the Meralco over recoveries that accumulated to over P120 billion from 2012 to 2022. If Meralco is really entitled to these under recoveries, grant it if warranted but do not allow an immediate inclusion in the bill but rather, a reduction in the amounts owed by Meralco for past DU charges over recoveries. while Meralco has recognized a liability for the accumulated over recoveries, it is not disbursing the same pending approval by ERC of the computation of over recoveries. The ERC should act in a more reasonable and just manner – by not allowing Meralco to hold on to consumer funds yet expect consumers to pay them for their more current under recoveries.