Maynilad to raise water rates starting August

Customers of Maynilad Water Services Inc. will have to pay higher bills starting August as the regulator Metropolitan Waterworks and Sewerage System (MWSS) approved a rate adjustment amid a weaker peso.

In a statement on Friday, Maynilad said the MWSS approved a foreign currency differential adjustment (FCDA) for the third quarter of 2017 equivalent to 0.80 percent or P0.27 per cubic meter of the average basic charge of P34.51 per cubic meter.

The adjustment will take effect on Aug. 13, 2017, the water concessionaire said.
 
For customers consuming an average of 10 cubic meters or less per month, the adjustment translates to a P0.13 increase in monthly water bills.

The bill for those consuming 20 cubic meters per month will see an increase of P0.48, while those consuming 30 cubic meters will pay an additional P0.99.

"This is because Maynilad pays foreign currency-denominated concession fees to the MWSS, as well as loans to fund service improvement projects that will expand and upgrade water and wastewater services for its customers in the West Zone," Maynilad said.

The FCDA is a tariff mechanism that allows water concessionaires to recover losses – or give back gains as the case may be – from fluctuation of peso exchange rate against other currencies.

"Moreover, the company is sustaining its program to reduce water losses or non-revenue water and bring the supply to the underserved or unserved sectors in the West Zone. Maynilad is also accelerating its sewerage and sanitation programs that will reduce pollution load in waterways," the company said.
 
Maynilad is the MWSS contractor for the West Zone of Greater Manila Area encompassing the cities of Manila, Quezon, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon, as well as and Bacoor, Imus, and the towns of Kawit, Noveleta and Rosario in the province of Cavite. — Ted Cordero/VDS, GMA News