Maynilad to raise water rate starting April 22

Maynilad announced on Thursday adjustments in its water rate – an increase due to its foreign currency differential adjustment (FCDA) and an adjustment to cover the 1.9 percent consumer price index.

The new rate will take effect starting April 22.

In a statement, Maynilad said that customers consuming 10 cubic meters or less every month would see their water bill increase by P2.60 – from P115.88 to P118.48. Those consuming 20 cubic meters every month would see their water bill increase from P434.04 to P443.81 – a difference of P9.77.

Meanwhile, households should also note an increase of P19.96 in their bill if they are consuming 30 cubic meters a month, making their bill P905.95, from the previous P885.99.

According to Maynidla, the increase in water rate is due to two factors:

“inflationary increase of 1.9 percent on the previous average basic rate of P33.87, which increased the average basic rate by P0.64 to P34.51 per cubic meter”

“FCDA will go up from 0.32 percent to 0.69 percent, as a percentage of the new average basic rate of P34.51 to P0.24 per cubic meter.”

It said that the FCDA is going to be effective from April 22 to June 30, 2017.

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.

“This is because Maynilad pays foreign-denominated concession fees to the Metropolitan Waterworks and Sewerage System (MWSS), as well as loans to fund projects that will improve service for its customers,” Maynilad said.

“Maynilad projects include the construction of new water infrastructure to enhance efficiencies and reduce water losses, and expansion of sewerage and sanitation services to help protect community health and the environment,” it added. /atm/rga

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