"We are just finetuning some mechanics. As soon as we are finished with these discussions with Napocor, we will be able to sign a memorandum of agreement (MOA) and submit the IRR with the Energy Regulatory Commission (ERC)," Meralco utility economics head Ivanna dela Peña said in a telephone interview.
Dela Peña said one of the provisions that Meralco wants to be clarified is the "refund process." "We want to ascertain that what we had agreed before would be carried out," she said.
Of the 92 centavo-discount that will be offered to big industrial customers, the bulk or 80 centavos will be shouldered by Napocor while the remaining 12 centavos will be extended by Meralco.
"It is Meralco that bills customers. So, we need to come up with a common agreement on how to implement the discount. Since most of the discount will come from Napocor, we have to determine whether we can offset this in our billing with Napocor," she said.
According to Dela Peña, this program is not new to both Napocor and Meralco. "We have implemented this (program) before. Since the scope is wider, we have to thresh out certain provisions," she added.
ERC Chairperson Fe Barin said implementation of the SPEED will depend on the submission of application by Napocor and Meralco.
"I understand, they (Napocor and Meralco) have some resolutions already on the SPEED. We are just waiting for their applications. We don’t see any problem as long as they have a reasonable way of recovering its cost. They should ensure that it would not affect the customers," Barin said.
Another Meralco official is apprehensive that talks between the distribution utility and Napocor would take more time than expected.
"There is a possibility (delay in the implementation). We are not sure yet if we can submit the application this week," the official said.
The official also noted that Napocor and Meralco have yet to also settle the issue on how to determine the eligibility of the customers that can avail of SPEED.