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Out of the said amount, P33.9 million will be refunded to the consumers because of apparent over collection of the controversial power purchase adjustment (PPA); P29.5 million represents the loan condonationl; and at least P1.06 million represents the meter deposits.
Beneco General Manager Gerardo P. Verzosa said the refund for the loan condonation is already being reflected in the monthly power bills of consumers while the refund for PPA and meter deposits will be implemented in the July billing of residential and commercial consumers.
However, the ERC decision is not only applicable to the rural electric cooperative in Baguio and Benguet but the same is also applicable to other large, medium and small electric cooperatives nationwide after the regulating body found out that the power firms have allegedly over collected the controversial PPA from their respective member-consumers.
During the time of the Energy Regulatory Board (ERB), Beneco was one of the most outstanding rural cooperatives because of reported under collections in the PPA for a good number of years.
When the regulating body was replaced by the ERC, there was a sudden change in decision and declared Beneco and other rural electric cooperatives to have reportedly over collected the said pass-on rate.
Considering that the CA ruling regarding their question on the alleged flawed ERC decision has attained finality, Verzosa said the cooperative will implement the refund on a staggered basis in order to preserve and protect the interest of the utility company, which is servicing non-viable remote villages in the province.
Baguio City accounts for over 85 percent of the total number of Beneco consumers. Its power supply comes from the hydroelectric power plants based in the different parts of Benguet.
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Verzosa said the refund to consumers will not significantly affect their performance in delivering quality and efficient power to consumers since the refund was computed in such a way that no service of the cooperative will be compromised.
