Manila Water to hike rates by 4 centavos
INQUIRER FILE PHOTO
MANILA, Philippines — The Razon-led Manila Water Company Inc. will increase its water rates by four centavos from April to June to recover losses due to currency fluctuations.
Customers consuming 10 cubic meters (cu. m.) per month or less may see their bills inch up by 21 centavos per month, while those consuming 20 cu. m. to 30 cu. m. or less will have to pay 45 centavos to 90 centavos more, respectively.
The Metropolitan Waterworks and Sewerage System Regulatory Office said it approved the foreign currency differential adjustments (FCDA) to allow Metro Manila’s water concessionaires to recover losses due to movements in exchange rates.
The FCDA is a tariff mechanism, reviewed quarterly, that allows Manila Water and Maynilad to handle foreign currency-dominated loans that are used to expand water and sewerage services.
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Manila Water serves the East Zone network of Metro Manila, covering parts of Marikina, Pasig, Makati, Taguig, Pateros, Mandaluyong, San Juan, portions of Quezon City and Manila, and several towns in Rizal province.
Maynilad defers increase
On the other hand, Maynilad Water Services Inc. deferred its adjustment to the third quarter.
“While the mechanism allows for quarterly adjustments, we considered it prudent to maintain rate stability for this period. Moving forward, FCDA adjustments will continue to be applied as needed, based on prevailing conditions,” Maynilad said.
The group is the water and wastewater services provider for the West Zone, covering 17 cities and municipalities in Metro Manila and Cavite.
