The High Court directs the Energy Regulatory Commission to review Meralco 's unbundled rates 'for determination of a reasonable and fair valuation of the regulatory asset base that will provide electricity to consumers in the least cost manner.'
The High Court directs the Energy Regulatory Commission to review Meralco 's unbundled rates 'for determination of a reasonable and fair valuation of the regulatory asset base that will provide electricity to consumers in the least cost manner'
According to court records, Meralco applied with the ERC to increase its rates by P1.1228 per kilowatt hour (kwh). The ERC approved it in 2003.
At the CA level, NASECORE complained that the ERC disregarded some crucial COA findings.
3.586 Billion in 2007 should not be considered as part of the rate base as they were not used and useful in the distribution operation," said the CA ruling.
"In partially granting the petition, the SC found that the ERC failed to properly consider COA’s findings as well as to comply with its statutory mandate to approve a rate that provides electricity to consumers 'in the least cost manner' as expressly provided in ERC’s charter," the SC said in its latest decision.
Auditors have noted that Meralco had"excess revenues" and"over recovery," which they said are basis for disallowance and can reduce the base rate from which the consumer rates are computed.Read more: Rappler
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