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E-mailMaynilad Water Services Inc., which provides water for the western side of Manila, will be lowering its rates from the start of April to the end of June after it was granted a foreign-currency differential adjustment (FCDA) of P0.1 per cubic meter.
“For Maynilad residential, unsewered customers who consume 30 cubic meters of water a month, the tariff reduction will translate to a decrease of P0.39 in their monthly water bill,” Maynilad said yesterday.
The FCDA, approved by the Metropolitan Waterworks Sewerage System (MWSS), is a tariff mechanism that allows utility companies to recover losses or give back gains due to the constant rise and fall of the value of the peso. Due to the recent strengthening of the national currency, the FCDA marked a decrease in the amount people have to pay.
“The peso has appreciated against the dollar and other currencies, so we will experience a downward adjustment starting April 1," said Jeric Sevilla, corporate communications manager of Manila Water Co. Inc., which provides water to Manila’s east zone.
Manila Water will be lowering its prices from P0.35 to P0.27, or by a difference of P0.08 per cubic meter.
Sevilla added that despite the water shortage caused by the El Nino phenomenon, water companies will not be rationing supplies. However, he added that consumers are still encouraged to be prudent in their water use.
"Responsible water use is needed so that current dam supplies will remain sufficient even before the rainy season arrives," he said.
Maynilad is operated by a joint-venture company controlled by Manuel Pangilinan’s Metro Pacific Investments Corp. and Consunji-owned DMCI Holdings Inc. Manila Water, on the other hand, is owned by the Zobel family.
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