Customers of Maynilad Water Services, Inc. in the West Zone can expect a slight drop in their monthly water bill starting October 1, 2020 as the company follows a decline in Foreign Currency Differential Adjustment beginning the 4th quarter of 2020.
“This is a downward adjustment of P0.15 per cubic meter from the previous FCDA of P0.48 per cubic meter,” the MWSS said in a statement.
The tariff reduction is due to the downward movement in the FCDA equivalent to P0.09 per cubic meter (cu.m.) or negative 0.26 percent of the Average Basic Charge of P36.24/cu.m.
Lifeline customers down will continue to enjoy the negative 0.35 percent FCDA that was implemented since the first quarter of 2020. Lifeline customers are those residential customers consuming 10 cu.m. per month or less.
For Maynilad’s residential customers consuming an average of 20 cu.m. per month, the adjustment will translate to a reduction of P0.25 in their monthly water bill. Those consuming 30 cu.m. per month will see a monthly bill reduction of P0.50.
The FCDA adjustment will be effective for 3 months from October 1, 2020 to December 31, 2020. 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.
Maynilad pays foreign-dominated 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 is an agent and contractor of the Metropolitan Waterworks and Sewerage System for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain areas), Quezon City (certain areas), Makati (certain areas), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon—all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario—all in Cavite province.