Laban Konsyumer Inc. (LKI) has supported the Energy Regulatory Commission’s (ERC) approval of MERALCO’s refund petition, which will provide financial relief to millions of consumers.

LKI Trustee Jorge Bandola noted that the P20-billion refund, to be distributed over the next three years, will result in a P0.20 per kilowatt-hour reduction in electricity bills for residential customers.

“This is a timely and positive development for the pockets of consumers already burdened by the rising costs of goods,” Bandola said.

While praising the ERC’s decision, LKI urged the regulator to expedite the long-delayed rate reset for MERALCO and other distribution utilities to ensure consumers benefit from timely regulatory reviews.

The years-long delays in the rate reset proceedings have hindered consumers from fully benefitting from the promised benefits of performance-based regulation, which is supposed to hold distribution utilities accountable for fair and reasonable power rates, as well as quality of service.

“In the interest of consumer welfare, we urge the ERC to conduct a review of electricity rates charged by other power distributors to ensure that all consumers—not just those being serviced by MERALCO—benefit from transparent and reasonable rates,” Bandola said.

“We will strictly monitor the rate reset proceedings and we expect the ERC to uphold consumer welfare by observing timeliness, fairness, and transparency in its regulatory actions,” he concluded.