The regulator Metropolitan Waterworks and Sewerage System (MWSS) approved recently a 1.12% increase or a 28-centavo per cubic meter increase in the Foreign Currency Differential Adjustment (FCDA) for the third quarter of this year for East Zone concessionaire Manila Water Co.
The FCDA is a tariff mechanism formulated to account for foreign exchange losses or gains arising from the payment of Manila Water of concession loans and foreign currency-denominated borrowings of the MWSS as well as the loans of Manila Water for service improvement and expansion. For the past several months, the Philippine peso continues to decline against the US dollar and other foreign currencies.
With the adjustment, the FCDA for the third quarter is now 3.92 percent of the basic charge of P24.81 or 98 centavos per cubic meter, up from the previous quarter’s 2.8 percent or 69 centavos per cubic meter.
Regular customers consuming 10 cubic meters will have to pay P136.99 per month up by P1.46 from the previous P135.53 per month.
Consumers with a monthly consumption of 30 cubic meters will now pay P 614.80 which is P6.61 higher than the previous quarter’s P608.19. Lifeline customers or low-income households consuming 10 cubic meters or less are exempt from the adjustment and will continue to pay only P79.81 per month. The adjusted rates are effective August 13.
Manila Water provides water and used water services to the following areas: Mandaluyong, Pasig, San Juan, Marikina, Pateros, Taguig, Makati, southeastern part of Quezon City and San Andres and Sta. Ana in Manila including several towns of Rizal Province which include San Mateo, Rodriguez, Antipolo, Cainta, Taytay, Angono, Binangonan, Baras and Jalajala.