Question & AnswerQ&A (ERC Resolution NO. 08, S. 2008)
The primary objective is to provide distribution utilities with parameters for refund of Meter Deposits and interests thereon and to provide applicable interest rates on the Meter Deposits resulting from the ERC's various rules and regulations.
It refers to any person or entity who is the registered customer of the Distribution Utility and has paid the Meter Deposit, including the registered customer's heirs, successors-in-interest, or duly authorized representatives.
Electric Cooperatives must commence the refund not later than twenty-four (24) months from the effectivity of these Rules.
Refunds can be made either as a credit to the customer's future monthly billings or offset against other due claims the EC may have against the customer. If as credit, it must be shown as a separate item in bills; if as offset, an official receipt must be issued.
No, Electric Cooperatives refund the meter deposit amount without any interest.
PUs must start refunding the meter deposits and accrued interests not later than six (6) months from the effectivity of these Rules.
Customers may opt for refund in cash, check, credit to future monthly billings, or offset to other due and demandable claims they may have with the PU.
Periodic refund is computed using the formula PR = TR x {[I x (1+I)] / [(1 + I)^n - 1]}, where TR is total refund amount including interest, I is the applicable interest rate divided by payments per year, and n is number of payments.
Registered customers must submit valid IDs (e.g., driver's license, passport); heirs/successors must submit valid IDs, death certificate, proof of succession; authorized representatives must submit valid IDs and Special Power of Attorney.
Violations are subject to administrative sanctions, including fines and penalties, as per the Guidelines for the Imposition of Administrative Sanctions promulgated by the ERC pursuant to Section 46 of Republic Act No. 9136.