MANILA -- Following the order for Meralco to refund customers of close to P20 billion, the Energy Regulatory Commission says it is the power distributor's responsibility to explain how the refund process will happen.

Meralco says looking to refund P19 billion to customers

Both the ERC and Meralco agree that the refund will amount to around P0.20/kwh for residential customers. But aside from saying the refund will be over a period of 36 months, Meralco has yet to explain how it will be computed.

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ERC Chairperson Monalisa Dimalanta believes the refund will be prospective -- meaning it will be based on future consumption starting April up to the next 35 months. This is instead of applying the refund based on previous consumption from 2022 to 2024, the period covered by the over collection. 

Meralco's P19 billion refund inadequate: ex-ERC official

This means the P0.20/kwh will be multiplied by the actual consumption beginning April until the end of the refund period.

Former ERC Commissioner Alfredo Non, meanwhile, believes the refund will be based on the actual consumption from 2022 to 2024. He said the refund will be computed by getting the average consumption over the 3-year period.

The resulting kilowatt hour consumption will then be multiplied by P0.20/kwh per month for the next 3 years.

Meanwhile, Meralco said its local retail electricity unit MPower has renewed its retail electricity supply contract with Megasoft Hygienic Products, Inc., one of the country’s leading manufacturers of sanitary and hygienic products.

MPower also signed a new supply contract with Mega Land Prime Estate Corp. to power its MegaOne Building in Quezon City.