CA orders Meralco to refund customers P5B in overpayments GMA News The Manila Electric Co. (Meralco) will have to refund its customers the P5 billion the power utility would be getting from the Power Sector Assets and Liabilities Management Corp (PSALM) and the National Power Corporation (NAPOCOR) in overpayments as ... Meralco to return P5 billion in overcharges to customersInterAksyon all 2 news articles » Continue reading...
I'd be curious to know how much NORECO has overcharged people over the years. I find electrical prices ridiculous in the Philippines as a whole...greed, corruption and incompetence seem to be the main causes for it as well.
I should imagine this will be contested in the courts for years and years until it's customers get fed up with waiting! I did notice our local power company had dropped its rates for the month of December though We see prices of oil plumiting over the last few months but never on elec prices :(
It has been suggested that one of the reasons for Oil prices coming down is probably Saudi and the USA plus others, in collusion to bring Putin to his knees, by refusing to reduce supply. Whether that is true or not, it is sure working. How such a similar action cold help here with electricity, I have no idea.
Roger, I think you are probably right on this, the U.s have wanted to teach the riskies a lesson for some time now to let them know who's boss. They seem to be doing the job but it's also hurting other economy's also.
