MWSS approves tariff reduction in water bills
MANILA, Philippines — Customers of Manila Water Co. Inc. can expect a reduction in their water bills while rates of Maynilad Water Services Inc. will be retained as the Metropolitan Waterworks and Sewerage System (MWSS) approved the removal of the Foreign Currency Differential Adjustment (FCDA).
In a statement issued yesterday, the MWSS regulatory office said the Board of Trustees recently approved its recommendation to remove the FCDA from customers’ bills beginning Nov. 18.
“The Revised Concession Agreements provide for the imposition of a tariff freeze until Dec. 31, 2022 and the removal of the FCDA,” the MWSS said.
The FCDA is a tariff mechanism that allows concessionaires to recover losses or give back gains arising from fluctuations in foreign exchange rates.
Manila Water said the removal of the FCDA from customers’ bills would decrease the standard rates for water and sewerage services.
Manila Water’s current FCDA is equivalent to 0.84 percent of the 2021 average basic charge of P28.52 per cubic meter or P0.24 per cubic meter.
Customers of Manila Water consuming 10 cu.m or less per month will see a rollback of P1.26 per month while those consuming 20 cu.m will see a P2.79 decrease per month.
In addition, Manila Water customers consuming 30 cu.m per month will get P5.69 reduction per month
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