The Incremental Currency Exchange Rate Adjustment (ICERA) refund is an ERC-approved adjustment mechanism that allows the National Power Corporation (NPC) to more accurately reflect costs affected by foreign exchange rate fluctuations.
It can be found at the back of your Meralco Bill under Generation and Government taxes. Learn more about your Meralco bill here.
Those who are currently active AND were already customers of Meralco between July 2009 an April 2010 are eligible of the ICERA refund.
The refund rate is approximately 0.4 centavos per kWh, plus associated taxes, as coordinated with state-owned Power Sector Assets and Liabilities Management Corp (PSALM).
In accordance with the ERC’s Order, the implementation is for a period of 60 months, starting February 2018.