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No water bill adjustment for Q3 of 2020

/ 09:05 PM June 08, 2020

MANILA, Philippines – There would be no adjustment in the water bills of Maynilad and Manila Water customers for the third quarter of 2020, the Manila Waterworks and Sewerage System Regulatory Office (MWSS-RO) confirmed on Monday.

According to Chief Regulator Patrick Ty, the Board of Trustees has approved the recommendation of the MWSS-RO to retain the existing second quarter Foreign Currency Differential Adjustment (FCDA) — which means that water prices would neither increase nor decrease.

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“The [MWSS RO] confirms that there will be no tariff adjustment on customers’ water bills this 3rd quarter of 2020,” Ty said in a statement.

“The MWSS Board of Trustees (BOT) has recently approved the recommendation of the MWSS RO to retain the prevailing 2nd quarter [FCDA] this upcoming quarter based on its evaluation of the FCDA proposals of the Concessionaires,” he added.

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As of now, Manila Water Company, Inc. (MWCI) which handles the east concession zone which services towns and nearby provinces east of Manila would continue to implement an FCDA of 1.69% of its 2020 Average Basic Charge of Php28.52 per cubic meter, or Php0.48 per cubic meter.

On the other hand, Maynilad Water Services, Inc. (MWSI) which oversees the west concession zone will still apply an FCDA of negative 0.21% of its 2020 Average Basic Charge of Php36.24 per cubic meter or negative Php0.08 per cubic meter.

“The FCDA is a quarterly-reviewed tariff mechanism that allows Concessionaires to recover losses or give back gains arising from fluctuations in foreign exchange rates, as payments are made for foreign currency-denominated loans that are used to fund the expansion and improvement of water and sewerage services,” Ty said.

“It is a corrective mechanism formulated by the MWSS RO to avoid under-recovery or over-recovery caused by forex movements,” he added.

Recently, MWSS assured water customers living in areas under an enhanced community quarantine (ECQ) that their connection would not be cut off even if they have yet to settle their bills.

MWSS-RO said that there would also be a grace period for the payment of bills during the duration of the ECQ, while an installment basis can also be availed by consumers.

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TAGS: board of trustees, Chief regulator Patrick Ty, FCDA, Foreign Currency Differential Adjustment, Manila Water, Manila Waterworks and Sewerage System, Maynilad, MWSS, MWSS-RO, Philippine news updates, Regulatory Office, water, water bills, water rates
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