METRO Manila power distributor Meralco assured its customers that the bill deposit reflected in their moenthly electric bill would be refunded after three years.
The refund for the bill deposit is possible when the customer has a good payment history or no missed payment of electricity bill, Meralco spokesperson Joe Zaldarriaga said in an interview with DZMM.
A bill deposit is provided under the Magna Carta for Residential Customers and serve as a guarantee for the customer to regularly pay his or her monthly electricity bill.
After one year and every year thereafter, whenever the actual average monthly bills are more or less than 10 percent of the initial bill deposit, such deposit shall be correspondingly increased/decreased to approximate said billing. It shall bear an interest rate per annum, which will be applied to the customer’s account.
The bill deposit also serves to cover unpaid electricity bills of a customer who have relocated without notifying Meralco, according to Meralco.