With the concurrence of the MWSS Board of Trustees, the implementation of the adjustments in the standard rates and second quarter Foreign Currency Differential Adjustments or FCDA has been approved upon the recommendation of the MWSS Regulatory Office headed by Joel Yu.
This was announced by Metropolitan Waterworks Sewerage System Administrator Reynaldo Velasco after the MWSS board meeting Tuesday.
Velasco said FCDA is a mechanism to adjust the water rates as a result of the fluctuation in the foreign exchange rates.
“This is provided for in Amendment No.1 of the Concession Agreements of Manila Water and Maynilad with MWSS. Our job is to see to it that we respect and honor such agreement after it has been deferred twice for six months now,” Velasco said.
The peso has been depreciating vis-à-vis the US dollar and the exchange rate now stands at P50.30 to $1.
For Manila Water customers, the adjustments in Standard Rates and FCDA will result in an increase of P0.36 per cubic meter. With the adjustments, monthly bills of residential customers consuming 10 cubic meters per month or less and not belonging to lifeline customers will reflect an additional P1.91; P4.19 for those consuming 20 cubic meters per month; and P8.60 for customers whose water consumption is 30 cubic meters per month.
Those classified as semi-business and consuming 10 cubic meters per month or less will have an increase on their monthly bills of Php1.91; those consuming 20 cubic meter per month and 30 cubic meters per month will pay an additional charge of Php5.83 and Php10.58, respectively.
Meanwhile, Maynilad customers consuming 10 cubic meters or less per month will pay an additional Php2.60; Php 9.76 for those consuming 20 cubic meters per month and Php20.09 for those whose water consumption reaches 30 cubic meters per month.
Maynilad customers classified as semi-business and consuming 10 cubic meters per month or less will be paying P4.42 more; those with 20 cubic meters consumption, Php13.47; and Php24.62 more for those consuming 30 cubic meters.
“Rest assured that the MWSS Board has exercised due diligence in the approval of the minimal water rates increase and we appeal to the general public for their kind acceptance and understanding,” the MWSS Chief said.
Apart from MWSS Administrator Velasco who sits as vice chair, other members of the Board of Trustees are retired Judge Franklin J. Demonteverde who recently assumed his post as MWSS Chairman, retired Sandigan Justice Jose R. Hernandez, lawyer Melanie Sia-Lambino, former DTI Undersecretary Merly Cruz, and lawyer Valeriano F. Pasquil.