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Maynilad, Manila Water to slash rates effective October 1 —MWSS


Customers in Metro Manila will expect lower water bills in the next months as the Metropolitan Waterworks and Sewerage System (MWSS) approved a quarterly adjustment for the concessionaires Maynilad Water Services Inc. and Manila Water Company Inc.

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The MWSS Regulatory Office (RO) on Tuesday announced that the MWSS Board of Trustees (BOT) has recently approved its recommendation to implement the 2020 fourth quarter foreign currency differential adjustment (FCDA), effective October 1, 2020.

The FCDA is a mechanism that accounts for foreign exchange losses or gains arising from the loans of MWSS and private sector concessionaires for capital expenditures and concession fees.

It is a corrective mechanism formulated by the MWSS to avoid under recovery or over recovery caused by forex movements.

East zone concessionaire Manila Water will implement an FCDA of 1.17% or P0.33 per cubic meter of its 2020 average basic charge of P28.52 per cubic meter.

“This is a downward adjustment of P0.15 per cubic meter from the previous FCDA of P0.48 per cubic meter,” the MWSS said.

The adjustment translates to a decrease of P0.78 per month for Manila Water’s residential customers consuming 10 cubic meters or less.

Meanwhile, those consuming 20 cubic meters per month and 30 cubic meters per month are expected to have their bills go down by P1.73 and P3.52 respectively.

Maynilad, on the other hand, will apply an FCDA of -0.26% of its 2020 Average Basic Charge of P36.24 per cubic meter or -P0.09 per cubic meter.

“This is also a downward adjustment of P0.01 per cubic meter from the previous FCDA of -P0.08 per cubic meter,” the MWSS said.

With this, Maynilad’s residential customers consuming 10 cubic meters or less are expected to see their monthly bills go down by P0.06.

Those consuming 20 cubic meters per month and 30 cubic meters per month are expected to have a decrease of P0.24 and P0.50 respectively on their bills this coming quarter, according to MWSS.—AOL, GMA News

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