Manila Water set to hike rates

MANILA, Philippines - Ayala-led East Zone water utility concessionaire Manila Water Corp. is effecting a water rate hike effective Jan. 1, 2012.

In a disclosure yesterday with the Philippine Stock Exchange, Manila Water said that it is effecting the water rate hike next year following approval from the MWSS board of trustees last Dec. 15.

According to Manila Water, half or 50 percent of its customers in the East Zone would be subject to a P0.77 increase per day for those consuming up to 15 cubic meters.

A higher increase of P2.18 per day is in store for those consuming up to 30 cubic meters.

Manila Water said 17 percent of its customers or those consuming zero to 10 cubic meters only per month would be subject to a lower increase of P0.27 per day.

The water rate hike, Manila Water explained, is the third tranche of its approved tariff adjustment under the Concession Agreement term extension.

The rate increase is equivalent to 5.07 percent and 4.6 percent of the consumer price index (CPI) to be applied respectively to the 2011 basic charged.

Manila Water’s East Zone concession covers the following areas: Manila (San Andres and Sta. Ana only), Quezon City (east of San Juan River, West Avenue, EDSA, Congressional and Mindanao Ave., Districts of Tandang Sora, Pasong Tamo and Matandang Balara), Makati City (east of South Super Highway), Mandaluyong City, San Juan, Marikina City, Pasig City, Pateros, Taguig – all in Metro Manila; Rizal Province.