Meralco ordered to refund P19.95-B to customers; Fitch upgrades Landbank’s viability rating

PTVPhilippines

Meralco ordered to refund P19.95-B to customers; Fitch upgrades Landbank’s viability rating  For more news, visit:  ►https://www.ptvnews.ph/  Subscribe to our DailyMotion Channel: ►http://www.dailymotion.com/peoples-television-incorporated  Subscribe to our YouTube channel: ►http://www.youtube.com/ptvphilippines  Like our Facebook pages: ►PTV: http://facebook.com/PTVph  ►Rise and Shine Pilipinas: https://www.facebook.com/riseandshinepilipinas  Follow us on Twitter:  ►http://twitter.com/PTVph  Follow us on Instagram: ►https://www.instagram.com/ptvph  Watch our livestream on:  ►http://ptvnews.ph/livestream/ ►https://www.dailymotion.com/PTVPhilippines  Watch our News Programs, every Mondays to Fridays  Rise and Shine Pilipinas - 6:00 - 7:00 am | 7:30 - 8:00 am Balitang Pambansa - 7:00 - 7:30 am | 12:00 - 12:30 pm | 6:00 - 6:30pm | 9:30 - 10:00 pm PTV Sports - 8:00 - 9:00 am Bagong Pilipinas Ngayon - 12:30 - 1:00 pm Sentro Balita - 1:00 pm - 2:00 pm Ulat Bayan - 6:30 pm - 7:00 pm PTV News Tonight -  10:00 pm - 10:30 pm  Saturday & Sunday: ►Sentro Balita Weekend - 1:30 - 2:00 pm ►Ulat Bayan Weekend - 6:15 pm - 7:00 pm

Transcript

00:00In other news, Meralko was ordered to refund billions of pesos to its customers.

00:05These and other stories in tonight's business wrap up by Denise Osorio.

00:11The Energy Regulatory Commission or ERC has ordered Meralko to refund 19.95 billion pesos

00:17to customers for excess charges from July 2022 to December 2024. The refund will be spread over

00:25three years starting April 2025 and will appear on bills as AWAT refund or collect.

00:31Customers will see an average reduction of 0.11 centavos per kilowatt hour

00:36with households getting 0.19 centavos per kilowatt hour.

00:42State-owned Land Bank of the Philippines received a higher viability rating from Fitch Ratings,

00:47reflecting its stronger financial position and growth outlook. Fitch upgraded Land Bank's

00:52viability rating to BBB plus and reaffirmed its long-term issuer default rating at BBB

00:58stable and government support rating at BBB. The bank's profitability is expected to improve

01:04as credit costs decline with economic growth and lower interest rates.

01:09Denise Osorio for the National Television Network for a new and better Philippines.

Category

Transcript

Recommended