Power, oil price hikes set

MANILA, Philippines - Oil companies raised gasoline prices effective today while water rates in Metro Manila will increase starting Oct. 1.

Pilipinas Shell Petroleum Corp. was the first to announce the price adjustment.

In an advisory yesterday, Shell said the fuel price movement for gasoline is P0.10 per liter, but none for kerosene and diesel.

Prior to this week’s adjustments, the Department of Energy (DOE) monitored gasoline prices at P36 to P43.95 per liter and diesel prices at P25.05 to P28.40 per liter.

In a briefing yesterday, DOE officer-in-charge Zenaida Monsada said the international oil market was quiet and only saw minimal activity.

There’s a lot of supply and less demand, that's why the market is quiet, she added.

Meanwhile, water rates in Metro Manila will rise starting next month after the Metropolitan Waterworks and Sewerage System (MWSS) approved a slight raise in the foreign currency differential adjustment (FCDA) component of water bills.

MWSS chief regulator Joel Yu said yesterday that the board approved on Sept. 9 the recommendation of the MWSS Regulatory Office to implement the fourth quarter FCDA adjustment.

This is meant to enable water concessionaires to fulfill their foreign currency-denominated loan obligations as the peso depreciates. The adjustment would be effective from Oct. 1 to Dec. 1. MWSS said east zone concessionaire Manila Water Co. Inc. would implement an upward FCDA adjustment equivalent to 0.21 percent of its 2015 basic water charge of P25.25 per cubic meter or P0.05 per cubic meter. This is higher by P0.03 compared to the third quarter 2015 FCDA adjustment of P0.02 per cubic meter.

Manila Water residential customers using 10 cubic meters or less per month (lifeline consumers) would see an increase of P0.17 in their bill. Those consuming 20 cubic meters would see an increase of P0.39 per month in their bill while those consuming 30 cubic meters would experience a bill increase of P0.79 per month.

Manila Water provides water and wastewater services in the cities of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig and Marikina. It also covers the southeastern parts of Quezon City and Sta. Ana and San Andres in Manila. In Rizal province, the Manila Water services the municipalities of San Mateo, Rodriguez, Cainta, Taytay, Angono, Baras, Binangonan, Jala-jala, as well as Antipolo.

Meanwhile, west zone concessionaire Maynilad Water Services Inc. would implement an upward FCDA adjustment of 1.58 percent in its 2015 average basic charge of P33.60 per cubic meter or P0.53 per cubic meter. This is higher by P0.11 compared to the third quarter FCDA adjustment of P0.42 per cubic meter.

Maynilad residential customers consuming 10 cubic meters or less per month would see an increase of P0.36 in their bill. Those consuming 20 cubic meters would pay an additional P1.37 per month while those consuming 30 cubic meters would experience an increase of P2.80 per month.