Lower Metro Manila water rates in October
The Metropolitan Waterworks and Sewerage System-Regulatory Office said the MWSS Board of Trustees has approved its recommendation to reduce tariffs, based on the fourth quarter foreign currency differential adjustment for both concessionaires.
STAR/Edd Gumban, file
Lower Metro Manila water rates in October
Louise Maureen Simeon (The Philippine Star) - September 16, 2020 - 12:00am

MANILA, Philippines — Customers of both concessionaires Maynilad Water Services Inc. and Manila Water Co. Inc. will see lower water bills for the rest of the year.

The Metropolitan Waterworks and Sewerage System-Regulatory Office said the MWSS Board of Trustees has approved its recommendation to reduce tariffs, based on the fourth quarter foreign currency differential adjustment (FCDA) for both concessionaires.

This means that a rollback will be implemented for the October to December period by both water firms.

MWSS chief regulator Patrick Ty said further rollbacks may be implemented in the beginning of 2021 as the Philippine peso keeps appreciating against foreign currencies.

Maynilad’s decrease is equivalent to P0.01 per cubic meter while that of Manila Water is a decrease of P0.15 per cu.m of basic charge.

Manila Water customers who consume up to 10 cu.m. per month will have a decrease of P0.78 while those consuming an average of 20 cu.m. will have a downward adjustment of P1.73.

Meanwhile, Maynilad residential customers consuming an average of 10 cu.m. or less every month will have a decrease of P0.06 per month while those consuming 20 cu.m. will have a P0.24 decrease in their water bills. Those using more than 30 cu.m. will experience decrease of P0.50 per month.

Adjusted rates for both Maynilad and Manila Water will be effective starting Oct.1.

FCDA is the tariff mechanism granted to utility companies to allow them to recover losses or give back gains arising from the fluctuating movements of the peso against other currencies, as the concessionaires pay foreign-dominated fees as well as loans to fund projects that will improve service for their customers.

Gains and losses can arise from the payment of concession loans and foreign currency-denominated debt whose proceeds are used to improve services.

Maynilad is the largest private water concessionaire in the country in terms of customer base. It serves the areas of Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, Malabon and certain portions of Manila, Quezon City, Makati and Cavite.

Manila Water, on the other hand, caters to the East Zone which encompasses parts of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila, as well as several towns in Rizal.

MANILA WATER MAYNILAD MWSS
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