There is money coming back to your Meralco bill, and it is not small change. The Energy Regulatory Commission just ordered Meralco to refund PHP 9.51 billion to consumers, and the refund should hit your bill within weeks.
This is separate from the PHP 19.95 billion refund that has been running since April 2025. Together, they mean one thing: Meralco collected more than it was approved to collect, and regulators are making it give the money back.
Here is everything you need to know, straight from the ERC’s official releases and Meralco’s own advisory.
The big one: PHP 9.51 billion, announced August 2, 2026
The ERC issued a 28 page decision dated July 31 directing Meralco to refund an exact total of PHP 9,506,566,556 over six months.
The average refund rate is about PHP 0.34 per kWh across all customer classes. Residential customers get a better deal: about PHP 0.59 per kWh.
For a typical household using 200 kWh a month, that is roughly PHP 117 off the bill every month for half a year. It is not a fortune, but it is real money.
Why did this happen?
The refund covers a lapsed regulatory period running from January to December 2025. During that window, Meralco kept billing with a legacy tariff while its new rates were still under review.
Because actual consumption was higher than projected, Meralco’s Actual Weighted Average Tariff, or AWAT, ended up above its approved distribution rate. That difference is what has to go back.
Meralco was quick to note it started the process itself, filing two true up applications covering the first and second halves of 2025. The ERC approved both, and included accrued interest so rate payers are properly compensated.
The other refund: PHP 19.95 billion, still running
This is not the first refund on your bill. In March 2025, the ERC ordered a PHP 19.95 billion refund covering over recovery from July 2022 to December 2024.
That one started in the April 2025 billing at an average PHP 0.1189 per kWh, originally spread over 36 months. In April 2026, the ERC accelerated it, so the remaining balance is now being returned over about 12 months, May 2026 to April 2027.
That is why you may have noticed higher refund amounts on recent bills. The same money, just coming back faster.
How do I see it on my bill?
Both refunds appear as a separate line item on your bill labeled “AWAT (Refund)/Collect” under Rate Components.
You do not need to apply, fill out a form, or call anyone. If you have an active account with kWh consumption, you are automatically qualified.
The only people left out are terminated accounts. If your account is active, the credit just shows up.
Sample computation
| Household usage | AWAT refund rate | Monthly refund |
|---|---|---|
| 100 kWh | PHP 0.59/kWh (residential) | About PHP 59 |
| 200 kWh | PHP 0.59/kWh (residential) | About PHP 117 |
| 300 kWh | PHP 0.59/kWh (residential) | About PHP 176 |
| 500 kWh | PHP 0.59/kWh (residential) | About PHP 293 |
Note: the PHP 0.59 rate is the residential estimate for the new PHP 9.51 billion refund. Your exact rate appears on your bill, and it varies slightly by customer class.
What Meralco is saying
Meralco has publicly committed to full compliance. “We will comply with the most recent directive of the ERC to implement the refund of PHP 9.5 billion over a six month period,” the company said in a statement.
The company clarified the excess was not an arbitrary billing adjustment, but the result of the mandatory true up mechanism built into ERC rules. It says it only charges rates approved by the regulator.
The refund takes effect in the upcoming billing cycle after Meralco officially receives the formal ruling. So expect it on your next bill or the one after.
The bottom line
If you are a Meralco customer, you are getting money back, twice over. The new PHP 9.51 billion refund lands over six months, and the older PHP 19.95 billion refund continues through April 2027.
No action needed. Just check the back of your bill for the AWAT line and make sure it is there.
And if it is not, that is exactly the kind of thing the ERC wants to hear about.
