Statement of Senator Risa Hontiveros on Meralco's response to proposed refund for consumers

PHILIPPINES, January 24 - Press Release
January 24, 2025

Statement of Senator Risa Hontiveros on Meralco's response to proposed refund for consumers

Hindi pwedeng magtago ang Meralco sa likod ng pagkukulang ng Energy Regulatory Commission, para takbuhan ang tinatayang P100 billion na dapat nitong isoli.

I am well aware of the ERC's mandate, and how it has in the past failed to perform that mandate. But Meralco cannot wash its hands and pretend that it has not instituted actions - such as using a higher nominal weighted average cost of capital (WACC) - that has led to overcharging of consumers and excessive financial burden to families.

Ngayong humihingi sila ng 25 taon na legislative franchise sa Kongreso, mas maganda kung huwag nang magpalusot ang Meralco, at tumulong na lang muna sa pagbalik ng bawat piso na sobrang kinolekta mula sa consumers. Ituwid muna ang dapat ituwid bago tumawid sa panibagong franchise.

May I remind Meralco of the decision by the new ERC disallowing more than P200-B of NGCP expenses that were passed on to consumers, including public relations, advertising and entertainment, donation to Covid-19 response, and charitable contributions, in addition to a higher WACC.

Huwag tayong masanay sa kalakaran na "overcollect now, refund later" dahil may tumatabo ng tubo sa pagsasakripisyo ng ating mga kababayan. Katulad din ng naiulat na may P28-B meter deposit ng mga konsyumer na pinatutubuan pa umano ng Meralco na parang kanyang sariling kapital.

I strongly urge the ERC leadership to use its abilities to not only determine the full extent of Meralco's overcollections but also require Meralco to immediately refund every single peso owed to Filipinos. Bilang dapat protektor ng consumer sa power sector, sana maramdaman ng taumbayan ang pagkilos ng ERC.

In the end, the quest for fairness and best practices serves not only the interest of Meralco and its customers but the industry as a whole.