Maynilad to raise water rates in January

Customers of Maynilad Water Services Inc. will see higher bills in January next year to cover foreign currency differential and consumer price index adjustments.

In a statement on Friday, Maynilad said it will implement an average basic rate adjustment of P0.97 per cubic meter or 2.80 percent of the P34.51 per cubic meter basic charge in 2017.

The new average basic charge of P35.48 per cubic meter for the first quarter of 2018 will take effect on January 1, 2018.

For customers consuming an average of 10 cubic meters or less per month, the adjustment translates to a P2.70 increase in monthly water bills to P121.65 from P118.95.

The bill for those consuming 20 cubic meters every month will see their water bill increase by P10.18 from P445.56 to P455.74, while those consuming 30 cubic meters will pay an additional P20.98 from P909.54 to P930.32.

Maynilad said the Metropolitan Waterworks and Sewerage System (MWSS) also granted a foreign currency differential adjustment (FCDA) equivalent to 0.60 percent or P0.17 per cubic meter of the new average basic charge.

FCDA is a tariff mechanism granted to utility companies to allow it to recover losses or give back gains arising from the fluctuating movements of the peso against other currencies.

"This is because Maynilad pays foreign-dominated Concession Fees to the MWSS, as well as loans to fund service improvement projects," Maynilad 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. —NB, GMA News