Manila: Senate Deputy Minority Leader Risa Hontiveros stated that the Manila Electric Co. (Meralco) must refund an estimated PHP100 billion in alleged overcollections from consumers before its legislative franchise is renewed by Congress. During her recent interpellation regarding Meralco's proposed legislative franchise renewal, Hontiveros committed to advocating for a Senate investigation into the utility company's pricing practices prior to any extension being granted.

According to Philippines News Agency, Hontiveros highlighted that Meralco's franchise does not expire until 2028, allowing sufficient time to address these issues and ensure every unjustly collected peso is returned to consumers. She accused Meralco of employing tactics to inflate electricity prices, such as using a higher weighted average cost of capital, overstating its regulatory asset base, and charging consumers twice for inflation since 2012.

Hontiveros argued that these practices result in consumers paying more than necessary while Meralco benefits from excessive profits. She emphasized that as the largest distribution utility in the country, Meralco should collaborate with the government to provide affordable and reliable electricity rather than pursuing greater profits through regulatory violations.

Furthermore, Hontiveros urged the Energy Regulatory Commission to ensure electricity is delivered at the minimum cost and free from unnecessary charges. She plans to file a Senate resolution urging the Committee on Energy to investigate the alleged overcollections, stressing the importance of a comprehensive and transparent accounting process to benefit consumers.