While the issue on how to lower power rates in the country is still en bank, the Energy Regulatory Commission or ERC already approved the guidelines for the refund of meter deposits by 140 distribution utilities in the country including Manila Electric Company (MERALCO).
Aside from the meter deposits, a certain interest will have to be returned to the public with the following brackets:
- 6% = for those who paid for meter deposits before 1995
- 10% = for those who paid for meter deposits from 1995 until 2004
The rules and guidelines will be published and within six months from the effectivity of the publication of the rules the refund will commence. If that is so, our household is expecting for a refund amounting to 1,240 pesos plus 10% because we paid for the meter deposits around 2003. I guess the practical way for us to get this refund is to just credit it on our account to avoid the hassle of going to MERALCO office since we are consuming 2,000++ pesos per month on our electricity.
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