I just paid my Meralco bill a few days ago when I received another notice from them.. not a disconnection notice but a Bill Deposit due.. Meralco Bill Deposit?!? what the?!?
Another shocking thing about this bill is, I need to pay PhP4000+ in a month’s time or else my service will be disconnected, yes even though I am paying my bill monthly.. it’s just plain unbelievable!
Meralco Bill Deposit
According to my notice, this is an annual updating of bill deposits as required by ERC Rules and Regulation. Here’s what the bill has to say about my Meralco Bill Deposit 4000 Php due:
Based on the comparison made between your bill deposit and average monthly bills for the past 12 months, your bill deposit has been determined insufficient. You will be required to pay an additional deposit.
Based on the notice, my average monthly bill is Php 7000+, which is also my required bill deposit amount but because I have 3000+ credits from existing bill deposits and net bill deposit interests, my due is only 4000 PhP.
After calming down, I read and re read the notice and learned that this annual updating has two implications:
First, the bill deposit annual updating where in it will have to be equal to the monthly average bill. If your average monthly bill exceeds your bill deposit, you will have to pay the excess or if your average monthly bill is less than your bill deposits, you are entitled to a refund.
Second, the deposits interest will be credited yearly to the bill.
Sample computation of Meralco Bill Deposit
Average monthly bill (for one year) 800
Bill Deposit + Interest 650
Average monthly bill- Bill deposits (+interest) = 150 < additional bill deposit to be paid by the costumer
Average monthly bill (for one year) 500
Bill Deposit + Interest 650
Average monthly bill- Bill deposits (+interest) = -150 < refund (credited to the bill)
Meralco website offered a more detailed FAQ’s on Meralco Bill Deposit and some explanations:
Meralco said that only 90,000 of its customers got letters this October notifying them of the need to pay additional bill deposit. It added that a majority of its customers are not expected to be covered by the update of bill deposits. The utility company clarified that only customers who have received at least three (3) disconnection notices or whose electric service has actually been disconnected in the past 12 months prior to their contract anniversary date have received these notification letters.
Customers who have been diligent in paying their electricity bills on or before due date, meanwhile, did not receive letters.
For all customers from whom additional bill deposit is required, Meralco will implement a collection scheme to make the payment easier for them. From the original period of 30 days to settle their deposit insufficiency, Meralco has manifested before the Energy Regulatory Commission (ERC) that it will instead stagger the collection over a period of 12 months starting January 2013. This collection period will also apply to customers who will receive notification letters in November and December.
The bill deposit is an amount required from customers of all distribution utilities as a guarantee for payment of electric bills. The bill deposit and its annual update are based on the provisions of the Magna Carta for Residential Consumers and the Distribution Services and Open Access Rules (DSOAR) for Residential and Non-residential Consumers, which Meralco is implementing.
So that’s what we got for my procrastination..every month, I pay our Meralco bills only after receiving our disconnection notice.. never thought it would have a bad effect on our bill.. maybe I should apply for online payment to prevent this thing from happening again.
Annual Update of Bill Deposit Frequently Asked Questions can be found here.
Marie saysOctober 28, 2012 at 10:29 pm
We have this but we usually get rebates since we don’t consume as much energy as we should. 🙂 Well, hopefully they refund and give back to the people what they owe…honestly!
Mommy Pehpot saysOctober 29, 2012 at 10:41 am
sana nga 🙂
Momgen Reviews saysOctober 29, 2012 at 8:19 am
That is complicated to me hehe but anyway, that is a lot of money in the Philippines isn’t it? But am not sure the equivalent but am guessing $95-$100. Here in US our bill is really huge because we use aircon and washer/dryer.
Mommy Pehpot saysOctober 29, 2012 at 10:37 am
not that much naman but it’s quite high compared to our neighbors haha we usually pay $175-200 per month
Dhemz saysOctober 29, 2012 at 9:03 am
wow, that’s a sky high electric bill you got there…:)
Mommy Pehpot saysOctober 29, 2012 at 10:36 am
A Walk Through Life saysOctober 29, 2012 at 12:42 pm
I would not be surprised if our utility provider will implement something like that here in Cebu. Still, I will pray that they don’t.
jheylo saysOctober 29, 2012 at 1:08 pm
oh my! that is crazy. Maybe the letter you have received was not been updated. Maybe they mailed it before you paid your due. Maybe you just have to discard that notice.
Maye Domencil saysOctober 29, 2012 at 2:10 pm
Sis, you can pay bills kung may online account ka sa BDO. Ganun ginagawa namin.
Mommy Pehpot saysOctober 31, 2012 at 8:56 pm
I’ll try that 🙂
Mary Anne Vinzon saysOctober 29, 2012 at 2:29 pm
I have been experienced to pay my electric bill,which is double as my previous electric expense.I really don’t know what kind of calculations they made.It’s just our eletric meter was burned out.They change the electric meter.
peachkins saysOctober 29, 2012 at 4:32 pm
WAAAAH! Ganyan din ako Peh, I only pay our Meralco pag may DN na! Malamang pag-bayad ko may deposit na rin..
Mommy Pehpot saysOctober 31, 2012 at 8:57 pm
hahaha katamad kase no
rc gweniful saysOctober 30, 2012 at 9:43 am
Talaga, ganun pala yun. I pay naman my meralco bill on time pero dun sa skycable, globe and maynilad, i tend to wait for the disconnection notice too. i hate lining up to pay bills. biro mo, to do this monthly is such a hassle.
Mommy Pehpot saysOctober 31, 2012 at 8:53 pm
I hate lining up to ahahaha
Gene saysOctober 31, 2012 at 1:12 am
There is such a thing as bill deposit? I’m not really sure with the in-laws now since they handle the payment and we just give them our share but back when I was paying my own bills, I didn’t know of this. We will be moving to our own flat soon, kaya more expenses for us. Ang baba pa naman ng conversation rate ng USD. :/
Mommy Pehpot saysOctober 31, 2012 at 8:52 pm
yes meron na ngayon.. pero sa mga delinquent accounts lang daw, gaya sa amin ahaha.. kaya pag ikaw na naghandle ng bills nyo make sure you pay on time 🙂
emzkie saysNovember 1, 2012 at 5:06 am
wow that is really amazing! when i applied for electricity here in US, they ask for a deposit as well. but it was because i dont have enough credits, and they just want to make sure that would get their payment if i dont pay my bill
Pepper Tan saysNovember 1, 2012 at 1:38 pm
I have to admit that I’m still trying to wrap my head around this whole bill deposit thing. Anyway, I always try to pay my Meralco bill ahead of the due date… just to spare me the headache 🙂
Belle saysNovember 22, 2012 at 8:54 pm
Deposits have been adjusted to be paid this January to December 2013. But somehow monthly bill seems to be so high and most people are complaining about this high energy cost for our consumption. If rich people are complaining what more on the average and the very poor family trying to live a normal life…