Meralco Allegedly Overcharged Pinoy Consumers by ₱100 Billion!
Kabayan, here’s something that might shock you more than your electric bill! Senator Risa Hontiveros recently revealed that Meralco allegedly overcharged consumers by a staggering ₱100 billion over the years.
Here’s how they supposedly did it:
1. Higher WACC (Weighted Average Cost of Capital): Consumers were charged higher while Meralco gained massive profits.
2. Inflated Asset Values: They allegedly overstated the value of their equipment to justify higher fees.
3. Double Charging for Inflation: Since 2012, we’ve reportedly been charged TWICE for inflation!
Senator Hontiveros is calling on the Energy Regulatory Commission (ERC) to investigate and ensure fair electricity rates. She also insists that Meralco should refund consumers with interest and face penalties. She’s even questioning why ERC has been so quick to approve Meralco’s rate hikes.
This isn’t just about refunds—it’s about holding them accountable. Hontiveros is also urging Congress to think carefully before renewing Meralco’s legislative franchise, set to expire in 2028.
Anong say nyo, mga kabayan? Should Meralco be penalized and forced to refund us? Do you think ERC needs to be stricter with approving rate hikes?