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Water rates down due to stronger peso

/ 04:04 AM September 16, 2020

Customers of Manila Water Co. Inc. and Maynilad Water Service Inc. will see slight decreases in their monthly bill for the next three months as regulators at the Metropolitan Waterworks and Sewerage System (MWSS) approved the latest quarterly foreign currency differential adjustment (FCDA) for the two concessionaires.

The FCDA is a rate-setting mechanism that enables Manila Water and Maynilad to recover from or give back to customers funds lost or gained due to fluctuations in the value of the peso against foreign currencies.

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The two companies pay foreign currency-denomina­ted loans that are used to fund the expansion and improvement of their water and sewerage services.

Patrick Ty, chief of the MWSS Regulatory Office, said at a press briefing that this year’s fourth-quarter FCDA would result in reduced monthly bills for all types of residential consumers.

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Ty said that for Manila Water customers, those billed for 10 cubic meters or less—except for “lifeline” custo­mers who are exempt from the quarterly FCDA charges—would pay 78 centavos less.

Those consuming more than 10 cubic meters and up to 20 cubic meters will pay P1.73 less. Those billed for more than 20 cubic meters up to 30 cubic meters will pay P3.52 less. INQ

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TAGS: Business, manila water co. inc., Maynilad Water Service Inc.
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