Meralco ordered to refund nearly P14-billion to consumers February 19, 2021 | 7:40 pm Angelica Y. Yang The Energy Regulatory Commission directed Manila Electric Co. (Meralco) on Friday to refund P13.89 billion in over-recoveries based on its actual weighted average tariff charges (AWAT) from July 2015 to November 2020. This comes around two months after Meralco applied for the approval of its final refund scheme based on the calculation of its AWAT compared to the ERC’s approved interim average rate (IAR). In a statement on Friday, the ERC said it had released the order for Meralco to refund P13.89 billion worth of its over-recoveries, which was equivalent to an average of PhP0.1528 per kilowatt-hour (kWh), in 24 months or until the amount has been fully returned to customers.