Boracay Water to increase rates
MANILA, Philippines - Manila Water Co. Inc. subsidiary Boracay Island Water Co., Inc. will start increasing its water rates this year even as it aims for a 100 percent coverage in its service area by the end of the year, according to an executive.
In an interview, Boracay Water general manager and chief operating officer Bernardo C. Mañosca said the concessionaire currently has total service connections of 5, 400, representing a 98 percent coverage.
Households not connected to the Boracay Water network rely on water deliveries from independent water vendors
The staggered rate increase of around 35 percent approved by the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) for Boracay Water takes effect this year.
This year, the company would be allowed to charge 10.10 percent more. Next year, the rate hike would be 9.18 percent, then 8.4 percent in 2015 and 7.75 percent in 2016.
Boracay Water is a joint venture between Ayala-led Manila Water and TIEZA.
In 2012, its billed water volume rose by 26 percent to 3.1 million cubic meters (mcm) from 2.5 mcm in 2011 as it registered a 12 percent increase in water service connections to 5,288 connections as of the end of the year from 4,736 connections in 2011.
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