Maynilad to adjust water tariff by October
Residents in the West Zone will have adjusted water rates as Maynilad Water Services, Inc. (Maynilad) implements a slight increase in its Foreign Currency Differential Adjustment (FCDA) starting October 1, 2017.
Maynilad customers consuming 10 cubic meters or less every month will see their water bill increase by P0.34 from P118.61 to P118.95, while those consuming 20 cubic meters every month will see their water bill increase from P444.29 to P445.56, a difference of P1.54.
Meanwhile, households consuming 30 cubic meters a month will note an increase of P2.60 in their water bill, from the current P906.94 to P909.54.
The increase in water tariff for Maynilad customers is due to an upward adjustment in the FCDA by P0.11/cu.m. from the previous quarter, following the depreciation of the Philippine peso.
The adjustment—equivalent to 1.09 percent of the Average Basic Charge of P34.51 per cubic meter or P 0.38/cu.m.—shall be effective from October 1 to December 31, 2017.
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 Metropolitan Waterworks and Sewerage System (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 projects include the construction of new water infrastructure to enhance efficiencies and reduce water losses, and expansion of sewerage and sanitation services to help protect community health and the environment.
Maynilad is an agent and contractor of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain areas), Quezon City (certain areas), Makati (certain areas), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon—all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario—all in Cavite province.