Meralco to continue refund, says Perez

The Manila Electric Co. (Meralco) should continue its refund process despite the company’s current financial bind, Energy Secretary Vincent S. Perez said.

During yesterday’s visit at the Meralco-Novaliches branch, President Gloria Macapagal-Arroyo has expressed satisfaction that the refund scheme has been in full swing with more than 1.55 million customers within its franchise area covered under Phase I of implementation.

President Arroyo said Phase II started last month and is expected to be completed by end-December this year to benefit 2.25 million customers.

At present, Meralco has refunded P1.75 billion to active residential customers using 0-100 kilowatt hours (kWh) under Phase I of the refund. Phase II involves customers consuming 101-300 kWh per month. Meralco has an estimated gross refund amount of P4.56 billion under Phase II.

Meralco president Jesus Francisco, for his part, informed President Arroyo that Phase III and IV are currently under study and the Meralco to final plan of refund implementation will soon be submitted to the Energy Regulatory Commission (ERC) for its approval.

Meralco officials earlier said proceeds from a rate adjustment and a planned bond offering will likely cover the last two phases of the refund.

The company will spend about P22.9 billion to carry out a refund for commercial and industrial customers under Phase III and IV.

To help consumers make judicious use of the refunded amount, President Arroyo ordered the National Food Authority (NFA) to set up rolling stores in Meralco branch offices. NFA rolling stores sell basic commodities such as rice, canned goods, soap, among others, at cheaper prices.

At the same time, the President ordered the Department of Health (DOH) and the Philippine International Trading Corp. (PITC) to also put up small drugstores that sell high quality, safe, effective drugs and medicines at lower price.

The President said that the presence of rolling stores and drugstore outlets in Meralco branch offices will provide necessary relief to the people from their mounting expenses.

At the same time, President Arroyo reminded Meralco to ensure that customers with terminated contracts will also get refund money.

Perez said the Department of Energy (DOE) through the Consumer Welfare Promotion Office (CWPO) is ready to entertain queries from consumers about the Meralco refund by calling 840-2267.