ERC says Meralco still owes clients P6.3B

Manila Times.net
Published : Saturday, December 10, 2011 00:00 
Written by : EUAN PAULO C. AÑONUEVO REPORTER


CUSTOMERS of Manila Electric Co. who have yet to collect a decade old Supreme Court-ordered refund should seek the reimbursement lest they forfeit their claims, according to the Energy Regulatory Commission.


In a media briefing, Francis Saturnino Juan, ERC executive director, said Meralco still has P6.3 billion to give back to its customers out of a P30.3-billion refund program that started in November 2001.


“Supposedly ang deadline nila based on the order issued by the [ERC] would have lapsed December 2010. Then [Meralco] requested -since may mga customer pa na hinde naka pag comply para dun sa mga requirements para sa refund [and] may mga customers pa na hinde nila ma-locate- so huminge sila ng additional time,” Juan said.


Should these customers fail to secure the refund from Meralco, the utility would have to settle the unclaimed amount through other means, he said.


Among the options that Meralco is eyeing is a rebate through customers’ electricity bills.


Another proposal is to place the uncollected funds in an escrow that would be turned over to the state if unclaimed over a certain period.


Meralco’s customers have until December 2015 to collect their dues from the utility.


The refund stemmed from a Supreme Court order for Meralco to return P30.3 billion in overcharges since 1994. But because of the hefty amount it had to settle, the utility was allowed to complete the refund in four phases.


Meralco is now on the last phase of the refund, which involves the company’s commercial and industrial customers.


Those entitled to the refund may claim their share from Meralco through postdated checks, credit-to-future bill or cash.