(PHOTOVILLE International / Apolinar Espos)
QUEZON CITY, Philippines – The Metropolitan Waterworks and Sewerage System (MWSS) has approved the increase in water rates of Maynilad and Manila Water effective next month.
The rate increase is due to the Foreign Currency Differential Adjustment (FCDA), a mechanism for adjusting water rates as a result of the fluctuation in the foreign exchange rates which concessionaires impose to regain revenue losses. FCDA varies every quarter of the year.
Strong peso against a dollar and other currencies cause the FCDA to drop while a weaker peso means an increase in FCDA.
“Alam po natin na bumaba ang peso compared sa dollar ang nangyayari po ngayon tumataas ang FCDA so may adjustment po tayo this month,” said MWSS Chief Regulator Patrick Lester Ty
Manila Water customers will have an additional P1.58 per cubic meter to an average basic charge of P36.40. This is equivalent to P5.21 additional charge to a consumption of 10 cubic meters per month, and P23.59 to a consumption of 30 cubic meters per month.
Meanwhile, Maynilad customers will have an additional P0.26 per cubic meter increase to an average basic charge of P48.03. This is equivalent to additional P0.23 for every 10 cubic meter consumption per month, and P1.75 additional charge to 30 cubic meters per month consumption.
The water rate increase will take effect beginning July 1, 2018. – Mon Jocson / Marje Pelayo