Saturday, November 08, 2008 Peco vows refund of meter deposits
PANAY Electric Company (Peco) has assured refund of meter deposits, including interest estimated to be more than P30 million, to almost 18,000 power consumers in Iloilo City starting next year.
Peco spokesman Randy Pastelero announced this recently after seeing Mayor Jerry P. Treñas to assure of the refund as ordered by the Energy Regulatory Commission (ERC).
Pastelero said that Peco is currently updating the list of bonafide power meter depositors and may adopt the policy of Manila Electric Company (Meralco) in giving priority payment to its consumers posting less than 100 kilowatt-hour of power consumption.
In Iloilo City, power consumers posting less than a 100 kilowatt-hour consumption may run up to more than 17,000 concessionaires. The refund of meter deposits will hopefully start by January 15, 2009.
Earlier, the ERC reiterated its 2007 order to all power distribution utilities in the country to submit collection of meter deposits by consumers in their respective areas.
The order came into heels of Resolution 2008-1259 of the Iloilo City Council asking ERC's opinion and intervention on the refund of meter deposits collected by Peco in Iloilo City.
ERC Director Isabelo Joseph P. Tomas II said the City Council resolution was entitled "Resolution urging Panay Electric Company to furnish Iloilo City Council the total amount of meter deposits collected from the time it started its operation in the City of Iloilo and the interest during such period."
ERC further said that all distribution utilities, including Peco, are required to submit the aforesaid information. (LCP)
