Water rates reduced starting January.
Consumers will see a reduction on their water bills starting January next year after two of the country's major concessionaires, Manila Water Company, Inc. and Maynilad Water Services, Inc. (Maynilad), cut their rates based on tariff adjustments, among other factors.
On Tuesday, Metropolitan Waterworks and Sewerage System Regulatory already approved the foreign currency differential adjustment (FCDA), which 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.
As a result, Manila Water and Maynilad were both obligated to adjust their rates.
For Manila Water, a reduction of P6.30 will be felt by an average household consuming 30 cubic meters (cu.m) per month. This translates to a monthly bill of P597.04.
These changes will be implemented starting January and will be reflected on the February billing onwards.
Dittie Galang, head of Manila Water's Corporate Communications media planning and tactical development, explained that the rate reduction doesn't only account FCDA but also the result of the arbitration as well as the consumer price index (CPI), which factors the country's inflation.
Manila Water holds the concession for the East Zone area, which covers parts of Manila, San Juan, Taguig, Pateros, Antipolo, Taytay, Jala-Jala, Baras, Angono, San Mateo, Rodriquez, Marikina, Pasig, Mandaluyong, Makati and Quezon City.
For Maynilad's residential customers consuming an average of10 cu.m per month or less, the adjustment will translate to a reduction of P0.64 in their monthly water bill, while those consuming 20 cu.m per month will see a monthly bill reduction of P2.43, while those consuming 30 cu.m. per month will have P5.04 or less in their monthly bill.
"This reduction in Maynilad's tariff is due to the downward movement in the FCDA despite the P0.27 per cu.m average basic rate adjustment owing to the 0.80 percent increase in CPI this year," a statement showed.
These rate adjustments will translate to a total monthly of P115.76 for lifeline accounts and P885.02 for users of about 30 cu.m.
Lifeline customers currently account for 21 percent of Maynilad's customer base, while residential customers who consume between 11-20 cu.m. of water per month account for 30 percent.
Maynilad holds for the West Zone concession that includes Greater Manila Area. It is composed of certain areas in Manila, Quezon City, Makati, Caloocan, Pasay, ParaAaAaAeA~aque, Las PiAaAaAeA~as, Muntinlupa, Valenzuela, Navo Malabon, Cavite, Bacoor , Imus, and the towns of Kawit, Noveleta, and Rosario.
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|Title Annotation:||Business News|
|Date:||Dec 15, 2015|
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