A lawmaker on Wednesday pressed the Energy Regulatory Commission (ERC) anew to expedite the approval of refunds or rebates pending before the agency and called for unbundling of fuel prices.
In a news statement, Bagong Henerasyon Party-list Rep. Bernadette “BH” Herrera said given these times of elevated inflation, more refunds and rebates would certainly be welcome for most Filipinos.
“If there are any more refund or rebate matters pending before the ERC, I request the ERC to expedite, please,” said Herrera.
Overbilled Meralco customers stand to get an estimated P21.8-billion refund equivalent to 87 centavos per kilowatt-hour in compliance with an earlier ERC order.
The congresswoman said unbundling fuel prices “is one more way to protect consumers and businesses from incorrect passing on of costs to them. Verifiability, auditability, and proper disclosure must be the transparency standards applied also on fuel prices.”
With unbundling of fuel prices, point of sale purchases of gasoline, diesel, kerosene, and LPG would have to show the breakdowns of the costing of the fuel, in somewhat the same way as the breakdown of our electricity bills.
The Makabayan bloc has already refiled its proposed Unbundling Oil Prices Act.
Moreover, Herrera said the refunds and rebates indicate the verifiable and auditable electricity pricing system is working for the most part.
“Fuel prices impact on electricity rates could be addressed better if fuel prices are unbundled to reflect the detailed components of fuel costs,” the lawmaker added.
“Fuel imported cost components should be distinguishable, so the ERC can easily determine whether the generation charge accurately reflects the contract prices of imported petroleum at the exact time of purchase,” Herrera said.
She previously said local fuel prices “will rise further because it now takes more pesos to import foreign oil. Expect added upward pressure on electricity, water, and telecoms rates because of added forex adjustment costs.”