Metro Manila (CNN Philippines, April 7) — Maynilad customers will pay more beginning this month as the concessionaire passes on higher foreign exchange and inflation costs.
In statement, Maynilad gave the following breakdown for the rate increases:
Customers consuming 10 cubic meters or less every month will see their water bill increase by P2.60 from P115.88 to P118.48
Those consuming 20 cubic meters every month will see their water bill increase from P434.04 to P443.81
Households consuming 30 cubic meters a month will note an increase of P19.96 in their water bill, from the current P885.99 to P905.95.
A company statement said it will implement a Foreign Currency Differential Adjustment (FCDA) from 0.32 percent to 0.69 percent starting April 22 as well as an adjustment to cover the 1.9 percent inflation rate.
“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,” Maynilad said.
“This is because Maynilad pays foreign-denominated Concession Fees to the Metropolitan Waterworks and Sewerage System as well as loans to fund projects that will improve service for its customers,” it added.
The FCDA shall be effective from April 22 to June 30, 2017.
