Ultra bilyonaryo Enrique Razon’s MORE Electric and Power Corporation has initiated a bill deposit refund for consumers in Iloilo City has taken a proactive step by initiating a bill deposit refund program for consumers in Iloilo City.
The bill deposit, which customers pay when applying for electric service, is now being returned as mandated by the Energy Regulatory Commission (ERC) for all distribution utilities, including private companies and electric cooperatives.
Under Article 7 of the Magna Carta for residential electric consumers, established by the ERC, the refund of the bill deposit is required after a period of three years or 36 months, provided that customers have consistently paid on time without any disconnection records.
MORE Power president and CEO Roel Castro said that the company has identified several consumers who meet the criteria and are eligible for refunds. This year alone, around P5 million in bill deposits are ready to be returned to these customers.
Castro emphasized that MORE Power aims to set an example for other distribution utilities by prioritizing customer satisfaction and actively initiating the refund process.
He expressed his concern over some distribution utilities that have not yet returned bill deposits, saying that their excuse is often that customers have not specifically requested the refund. However, he believes that a customer-focused utility goes beyond customer requests and takes the initiative to inform and return the money that is rightfully due.