Meralco wants PSALM to refund customers P9.1B

Posted at Sep 04 2012 02:21 AM | Updated as of Sep 04 2012 10:21 AM

As early as 2008, power utility Meralco had been asking the Energy Regulatory Commission (ERC) to check the overcharges of the Power Sector Assets and Liabilities Management Corporation (PSALM) on line loss components since 2006.

This involves line rentals that PSALM included in its contract with Meralco.

The ERC acknowledged there is indeed double-charging, which Meralco computed to have already amounted to P9.1 billion as of May 2012. - ANC, Business Nightly, September 3, 2012