THE Central Negros Electric Cooperative Inc. (Ceneco) announced in a press statement Thursday that it will implement the refund of P0.2220 per kilowatt-hour (kWh) to its electricity consumers for November 2017 billing period.
In the October 2017 billing, Ceneco collected the P0.2220 per kWh after receiving official order dated June 20, 2017 from the Energy Regulatory Commission (ERC) mandating all distribution utilities (DUs) to comply with such order after the ERC approved the petition of Power Sector Assets and Liabilities Management (Psalm).
The petition sought to recover in tranches a periodic portion of Generation Rate Adjustment Mechanism (Gram), Incremental Currency Exchange Rate Adjustment (Icera) and Automatic Cost Recovery Mechanism (ACRM) True-up Adjustment.
Last October 19, Ceneco received another directive from ERC to defer the collection until January 2018 to give time to Psalm to conduct information and education campaign in response to the petition filed by consumer groups.
In response, the Ceneco Board of Directors passed a resolution during its November 7 regular meeting to comply with said order and further decided to fully refund the said collection in the billing month of November 2017.