MANILA  -The Energy Regulatory Commission (ERC) has allowed power distributor Manila Electric Co. (Meralco) and Panay Energy Development Corp. (PEDC) to recover from their consumers nearly P900 million in losses despite the termination of the companies' power supply agreement (PSA). ERC Chair Monalisa Dimalanta explained, however, that there would be 'no immediate rate impact,' as the commission has yet to review Meralco's recovery petition. In a March 8 decision released on Aug. 29, the ERC granted Meralco and PEDC's joint motion for a contract price adjustment due to high fuel costs, which was recognized as a valid 'change in circumstance' under their PSA signed in December 2021.

https://business.inquirer.net/418722/erc-allows-meralco-to-recoup-p900m-in-losses

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