MANILA WATER, MAYNILAD TO SLASH WATER RATES EFFECTIVE JANUARY 2021
As the Metropolitan Waterworks and Sewerage System (MWSS) approved a quarterly adjustment for the water distribution utilities, customers of water water concessionaires Maynilad Water Services Inc. and Manila Water Company Inc. will expect lower water bills in the first three months of 2021.
The MWSS Regulatory Office (RO) on Wednesday announced that the MWSS Board of Trustees has approved its recommendation to implement the 2021 first quarter foreign currency differential adjustment (FCDA), effective January 1, 2021, “based on its evaluation of the FCDA proposals of the concessionaires.”
The FCDA is a mechanism that accounts for foreign exchange losses or gains arising from the loans of MWSS and private sector concessionaires for capital expenditures and concession fees.
It is a corrective mechanism formulated by the MWSS to avoid under recovery or over recovery caused by forex movements.
East zone concessionaire Manila Water will implement an FCDA of 0.66% of its 2021 average basic charge of P28.52 per cubic meter or P0.19 per cubic meter.