“While the reduction to the electricity bill may be minimal, the ERC’s actions actually averted a rate increase that would have been inevitable had Meralco been just allowed to recover what is due it, without the ERC putting it to task to immediately return to the consumers what is due them,” ERC Executive Director and Spokesman Francis Saturnino C. Juan pointed out.

This came about after the ERC resolved three pending cases of Meralco on over- and under-recoveries in its transmission charges and implementation of its approved charges to recover certain under-recoveries in its purchased power adjustment (PPA).

The first of these three cases relates to Meralco’s claims for under-recoveries in its transmission charges for the period from June 2003 to July 2007 totaling P5.56 billion, which it filed in September 2007 and was docketed as ERC Case No. 2007-147RC.

After disallowing some of the amounts included in Meralco’s application based on its finding that these were not duly substantiated or explained, the ERC approved Meralco’s recovery of the amount of P5.35 billion, inclusive of carrying charges, representing its under-recoveries for the period covered by the application. (mb.com.ph)

Total trades were 6,889 with a volume of 1,031,871,345. There were 51 advances and 45 declines. Unchanged hit 56.