Manila, The Philippines --- (METERING.COM) --- February 20, 2008 – The Energy Regulatory Commission (ERC) of the Philippines has produced draft rules governing the refund of deposits paid on electricity meters, and consultation with the public will start later this month.
The draft rules contain a provision that deposit refunds from private utilities should include interest of between 6 and 10 percent a year, depending on when service was first taken. State-owned cooperatives will not be required to pay interest, however. Refunds can be spread over a five year period or less, and utilities must inform the ERC a month before they plan to begin refunding their customers.
The refunds will be credited to customers’ monthly bills.