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NewsTranscript
00:00A huge oil price hike will be implemented on the first Tuesday of 2025.
00:05There is an expected refund from Meralco.
00:08This is Macky Pulido.
00:13Due to the upcoming refunds,
00:15it is possible that there will be months this year when the bill of electricity will be a little more flexible.
00:20In February, almost a billion pesos will be refunded that were not used
00:23but were taken away by private distributors that were supposed to be paid by the experts of the Energy Regulatory Commission.
00:30That's around 23 centavos per kilowatt hour for Meralco's customers.
00:34We don't need those funds, so those funds need to be returned.
00:37The refund can still be increased because the Energy Regulatory Commission will still review
00:42the huge amount taken away by Meralco from 2022 to 2024.
00:46But if there is a refund, there is also an increase.
00:48The National Grid Corporation of the Philippines will also take away
00:53a reserve of electricity last year that was equivalent to 12 centavos per kilowatt hour
00:57within three to six months.
01:00There were a lot of refunds in a few years after the ERC's regulatory reset
01:05or the account of how much will be refunded to the customers.
01:09If the NGCP's regulatory reset is planned, for example,
01:13it will be known if it will be refunded or if a refund will be added.
01:16If the ERC decides to allow the NGCP to ask for projects that are not yet completed,
01:23it will be equivalent to a 12 centavos per kilowatt hour increase.
01:27But there will be a refund of P1 per kilowatt hour within a year
01:32if the ERC decides that what can be asked for is for the completed projects.
01:37The reset will really need to be completed for Meralco and NGCP.
01:42For Rebecca, a working student, it's a big thing to ask for even a few cents refund,
01:46especially if she will go home with a deficit.
01:48While studying, Rebecca is struggling because her family is in the province.
01:53I hope there will be a refund because it will be a big help for my food,
01:56for the tricycle to go to school, for the jeepney.
02:00I think it's just a barrier or a small rollback.
02:05But she also has another problem.
02:07Rebecca lives in a place that will lose electricity this Sunday due to Meralco's maintenance.
02:13The schedule of Meralco's maintenance is on Meralco's website and Facebook page.
02:17It's important here to make sure that our facilities are in tip-top condition
02:23so that we can face the challenges of time.
02:28Summer months will start and then the rainy season will end.
02:33It's a hassle but Rebecca will just have to endure it
02:36by sidelining as a virtual assistant.
02:39Maybe I just need to go out to look for an establishment that provides outlets.
02:46But it's really inconvenient for me.
02:49Motorists will face a big-time oil price hike on Tuesday, March 1, 2025.
02:55The increase in each liter of diesel will be P1.40, P1.00 for each liter of gasoline and P1.00 for each liter of kerosene.
03:04The Oil Industry Management Bureau of the Energy Department said
03:08that due to high prices, OPEC Plus' production will be reduced until April
03:13and it's a cold time in America and Europe where the demand for oil is increasing.
03:18For GMA Integrated News, Macky Pulido, your Saksi.