THE Energy Regulatory Commission is still evaluating the total amount to be refunded by Davao Light and Power Co., a subsidiary of Aboitiz Power Co., to its consumers.

The refund is based on the decision of the Supreme Court last November 30, 2006 ordering ERC to proceed with refund proceedings.

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"The commission is presently evaluating the total amount to be refunded by DLPC as well as the manner of refund to its consumers. Thereafter, it will be presented before the Commission En Banc for its consideration," a letter from the legal department of the ERC read.

Antonio G. Diaz, a businessman and owner of Imperial Hotel along C.M. Recto Street, filed a suit against DLPC for its electric rates and sound value appraisal of its assets.

Diaz was also the one who presented the letter during the Club 888 business forum at Marco Polo Davao Wednesday.

In 2004, Diaz and two others filed a petition before the Energy Regulatory Board Commission in Metro Manila (ERB) to direct the Commission on Audit (COA) to examine the books of the Davao Light and Power Cooperative (DLPC) since 1993 to find out if its actual yearly profits are within the amount allowed by law.

The five-page petition was filed jointly filed by Diaz, Francisco P. Tesorero, a certified public accountant, and Dr. Hospicio C. Conanan, then chair of Konsumo Dabaw, with the assistance of their counsel Medardo Ag. Cadiente against DLPC.

The petitioners alleged that the rate base of DLPC, which is P1,122,687,220, is grossly overstated and that DLPC had overly bloated its operating expenses. They also said the computation of "rate of returns" was misstated. (Carlo P. Mallo)