Meralco nearly completes P8-B refund

Giant utility firm Manila Electric Company (Meralco) is now completing the last stretch of its refund to industrial customers, the remaining payout of which amounts to P8.0 billion out of the P30 billion previously ordered by the Supreme Court.

We still have around P8.0 billion refund to our industrial customers. Most of them opted for PDCs (post-dated cheques), Meralco first vice president and treasurer Rafael L. Andrada said.

He added that the overall refund process will be completed by 2011, which is still in keeping with the high court’s mandate.

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