VECO to refund P0.001/ kwh Mitchelle L. Palaubsanon/RHMVECO to refund P0.001/ kwh

CEBU, Philippines - The Visayan Electric Company is set to refund P0.001 per kilowatt hour to its customers starting March next year.

VECO spokesperson Theresa Sederiosa said that for a residential customer consuming 200 kwh per month, the P0.001 per kwh refund would translate to a reduction of P0.20 in their electricity bill.

In a statement, VECO said the Energy Regulatory Commission’s November 10, 2014 decision in Case No. 2012-013 CF, the company is allowed over-recoveries of P248.87 million and an under-recovery of P234.88 million, resulting in an over-recovery surplus of P13.98 million, or P0.001 per kwh.

“VECO is set to comply with this ERC ruling,” said.  VECO chief operating officer Sebastian Lacson, who added that refund would start three months after their receipt of the ERC order.VECO received its copy of the order last December 9. (FREEMAN)