The Energy Regulatory Commission or ERC may consider the recommendations of a former commissioner in its recomputation of the weighted average cost of capital or WACC of the Manila Electric Co. or Meralco.

In a text message, ERC chairperson and CEO Monalisa Dimalanta confirmed that her office has received a copy of the simulation computed by former ERC Commissioner Alfredo Non, which stated that Meralco's customer refund may have reached P150 billion.

"It was submitted as part of the Motion for Reconsideration in the case so we will resolve it as part of the case," Dimalanta said.

WACC is one of the "building blocks" for computing power costs under the government's rate-setting methodology called the Performance-Based Regulation.

According to Non, Meralco customers who consume 200 kilowatt-hours or kWh monthly are eligible for a P2,700 refund each month.

Those who consume 300 kWh are eligible for a P9,500 refund each month, while those who consume 400 kWh are eligible for a P15,500 refund each month. Customers who consume 1,000 kWh or more are eligible for a P51,000 refund each month.

The computation also included new rates that Meralco should charge its customers after the refund is completed.

Additionally, he said that a rate reduction of P22 per month should be implemented for those who consume 200 kWh monthly; P79 per month for those who consume 300 kWh monthly; P129 per month for those who consume 400 kWh monthly; and P428 per month for those who consume 1,000 kWh or more monthly.

"Since 2012, there have been no complete rates. The rates should be reset every four years so that means Meralco does not have a final rate," Non said in a separate press statement.

"From 2012 until now, Meralco's average billing rate to us is P1.47 per kwh. So, there is already an overbilling of P0.09 per kwh," he added.

Earlier, Laguna Representative Dan Fernandez stated that the unadjusted WACC is the primary cause of consistently high power rates.