ERC orders Meralco to refund consumers; amount of refund is P9.5B

MANILA, Philippines—Consumers of Manila Electric Co. (Meralco) may realize a modest reprieve from elevated power rates as regulators gave the green light to implement a P9.5-billion refund. Based on its decision dated July 31, the Energy Regulatory Commission ordered the country’s biggest power distributor to refund the equivalent rate of P0.3449 per kilowatt-hour (kWh) within