We all know that in order to have electricity, you need to pay a bill deposit. Bill deposit is an amount required from customers of distribution utilities as a guarantee for payment of electric bills. It is equivalent to your average monthly electricity bill and earns interest at a rate prescribed by ERC.
The bill deposit may be refunded in full if you have been consistently paying your monthly electric bills on or before the due date for the past three years.
Last April, aside from our Meralco bill, I saw another paper stating “As a good paying customer, we are pleased to present to you the following options regarding your bill deposit.”
Option 1: Refund the bill deposit in full including accrued interest.
If you prefer this option kindly accomplish the application form at the back of this letter and submit it to the nearest Meralco Business Center together with the necessary documentary requirements.
Please be informed, however, that as prescribed under the rules of the Energy Regulatory Commission (ERC), a bill deposit previously refunded in full prior to the termination of service may be re-imposed if the customer fails to pay the monthly bill on or before the due date. Further, once the bill deposit is re-imposed, the customer loses the right to refund the same prior to the termination of his/her electric service. As such, we encourage you to continue paying your bills on or before the due date to maintain your good credit standing and avoid having your bill deposit re-imposed.
Option 2: Retain the bill deposit with Meralco to continue earning interest in accordance with the existing rules of the ERC.
If you prefer this option, Meralco will defer collection of the additional deposit should your existing bill deposit fall below the required amount as long as you continue to pay your bills on or before the due date. On the other hand, should the bill deposit go beyond the required amount, the excess amount will be credited to your electric bill.
Of course, we chose Option 1, the amount is not that big but we decided to refund it. #peraparinito My husband went to Meralco to refund but we were not able to get the money yet. They just get some information and we need to wait for 30 days to process.
Months had passed and we forgot to follow up on our Meralco Bill Deposit Refund and we did not receive any letter or call if we can get the money already. #asapa
My husband was on leave so I told him to call Meralco and check if we can refund the bill deposit and off he went to Meralco.
I prepared the following:
Original Receipt that we received when we applied six years ago. It was attached to the Contract for Electric Service Form.
Letter of “Meralco Bill Deposit Refund”
Photocopy of ID
He was able to refund the bill deposit. Meralco got the original receipt + letter then they gave my husband a paper“Acknowledgement of Credit Refund” + stamped “BD Claimed” on our Contract for Electric Service.
And because I want to be a good paying customer so they will not require us to pay the bill deposit again, I enrolled Meralco in my bank account so I can pay it online.
Read: How to View Meralco Bill Online
Important Notice from Meralco
Early Refund of Bill Deposit due to Good Credit Rating
Registered customers with good payment records can avail of the Early Refund of Bill Deposit. The bill deposit serves as a guarantee for payment of electric bills and earns interest at a rate prescribed by ERC. Eligibility for early bill deposit refund is earned through consistent payment of monthly electric bills on or before the due date for three consecutive years.
To know if you are eligible for this program, kindly call any Meralco Business Center or the refund hotline at 632-8888.
If you are eligible and decide to refund your bill deposit, kindly be advised to keep paying your monthly bills on or before the due date to avoid deposit re-imposition. Under ERC rules, a customer with a re-imposed bill deposit loses the right to refund the same prior to the termination of the electric service contract.