The Philippine Online Chronicles

Metropolitan Waterworks Sewerage System (MWSS) concessionaires announced a slight reduction in their rates in separate statements this week.

Ayala-led Manila Water Co. Inc., which services the east zone of the metro, will reduce water charges by P0.08 less per cubic meter of consumption to reflect the strengthening peso, the company said Monday, Dow Jones Newswires reported.

The Foreign Currency Differential Adjustment (FCDA) component of the Manila Water bill will decrease from P0.35 to P0.27 per cubic meter.

“This represents a 1.24-percent downward adjustment from 1.58 percent of the previous quarter,” Manila Water told the stock exchange yesterday, Business Mirror said.

Maynilad Water Services Inc., which services the west zone of the metro, also announced in an article on their website that they will reduce tariff rates from April 1 until the end of June.

Citing a MWSS board resolution dated March 10, the FCDA will allow them to charge P0.10 per cubic meter, P0.01 less than the previous P0.11 per cubic meter charge. A Maynilad residential, unsewered customer who consumes 30 cubic meter of water per month could experience a P0.39 decrease in their monthly water bill, the company said.

The FCDA is a mechanism that adjusts the water rates to account for fluctuating foreign exchange and computes the gains or losses when paying the company’s concession fees and loans for service expansion improvement. It is determined on a quarterly basis, taking into account actual losses and collections, and is intended to service the foreign currency denominated loans  and the debts of the MWSS that was taken on by its concessionaires.

Manila Water services the east zone of the metro which encompasses parts of Manila, San Juan, Taguig, Pateros, Antipolo, Taytay, Jala-Jala, Baras, Angono, San Mateo, Rodriguez, Marikina, Pasig, Mandaluyong, most of Quezon City, and Makati.

Maynilad services the cities of Manila, Quezon City, Makati, Caloocan, Pasay, Paranaque, Las Pinas, Muntinlupa, Valenzuela, Navotas, Malabon, Cavite City, and the towns of Bacoor, Imus, Kawit, Noveleta, and Rosario in the province of Cavite.