The Philippine Star
Reduced water rates seen next month
Customers of water concessionaires Maynilad Water Services Inc. and Manila Water Co. Inc. will see lower water bills at the start of 2021.
At a virtual briefing yesterday, the Metropolitan Waterworks and Sewerage System- Regulatory Office (MWSS-RO) said the MWSS Board of Trustees has approved the recommendation to reduce tariffs based on the first quarter foreign currency differential adjustment ( FCDA) for both concessionaires.
This means that a rollback would be implemented for the January to March 2021 period for both water firms.
MWSS chief regulator Patrick Ty said the Philippine peso keeps on appreciating versus other foreign denominations like the US dollar and Japanese yen, thus the reduction.
Maynilad’s decrease is equivalent to P0.05 per cubic meter while that of Manila Water is a decrease of P0.15 per cu.m. of its basic charge.
Manila Water customers who consume up to 10 cu.m. per month would have a rollback of P0.76 per month while those consuming an average of 20 cu.m. would have a downward adjustment of P1.69.
Customers using 30 cu.m. would see a rollback of about P3.54.
Meanwhile, Maynilad residential customers consuming an average of 10 cu.m. or less every month would have a rollback of P0.05 per month while those consuming 20 cu.m. would have a P0.64 decrease in their water bills.
Those using more than 30 cu.m. would experience a decrease of P1.30 per month.
Adjusted rates for both Maynilad and Manila Water would be effective starting Jan. 1.
FCDA is the tariff mechanism granted to utility companies to allow them to recover losses or give back gains arising from the fluctuating movement 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.