Meralco secured regulator approval to refund customers P13.9 billion pesos over 24 months, which will come as a relief to consumers during the pandemic, the Energy Regulatory Commission said Friday.
The refund amount, equivalent to P0.1528 per kilowatthour, represents the difference between the Actual Weighted Actual Tariff or AWAT charged by Meralco and the Interim Average Rate or IAT approved by the ERC, the regulator said in a statement.
The ERC directed Meralco to reflect the refund as a separate line in electric bills. The refund should be paid out in 24 months or until the amount is fully exhausted, the ERC said.
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