MM water rates to go down

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    Water rates in Metro Manila will be rolled back at the start of next year due to foreign currency differential adjustments (FCDA), according to the Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS-RO).

    In a virtual briefing yesterday, Patrick Ty, MWSS-RO chief regulator, said the FCDA movement was mainly driven by the strong performance of peso against US dollar and the Japanese yen.

    FCDA is the tariff mechanism granted to utility companies to allow recovery of losses or give back gains arising from the fluctuating movements of the peso against other currencies as concessionaires pays foreign-dominated fees as well as loans to fund projects that will improve service for its customers.

    Maynilad will implement an FCDA of – 0.39 percent of its 2021 average basic charge of P36.24 per cubic meter (cu. m.) or – P0.14 per cu. m.

    This will result in a downward adjustment of P0.05 per cu. m. compared to the previous FCDA of -P0.09 per cu. m.

    For Maynilad customers consuming an average of 10 cu.m. per month or less, the adjustment will translate to a decrease of P0.05 in their monthly water bill. Those consuming 20 cu. m. per month will see a downward adjustment of P0.64 while those consuming 30 cu.m. per month will have P1.30 less charge in their monthly bill.

    For Manila Water customers consuming an average of 10 cu.m. per month or less, the adjustment will translate to a decrease of P0.76 in their monthly water bill. Those consuming 20 cu. m. per month, monthly bill will go down by P1.69, while those consuming 30 cu.m. per month will have P3.45 lower charge in their monthly bill.

    The computation is based on an FCDA of 0.66 percent of its average basic charge of P28.52 per cu. m. or P0.19 per cu. m. It is a downward adjustment of P0.14 per cu. m. compared to the previous FCDA of P0.33 per cu.m.