Maynilad Water Services, Inc. customers can expect to keep reaping significant savings on their water bills if the Metropolitan Waterworks and Sewerage System agrees to extend their revised concession agreement or RCA to 2047.

Based on the company's simulation, a residential customer using 30 cubic meters of water per month currently could save as much as P212 per month from the longer concession.

A lower tariff adjustment of 35.61 percent is expected once the extension is in effect, computed on a one-time basis. This is in contrast to the 58.56 percent tariff adjustment that would have been implemented if the extension had not been assumed.

"The extension represents a mutually beneficial arrangement for Maynilad and our valued customers. Beyond our commitment to ensuring a sustainable water future, it underscores our dedication to making our services more affordable to our consumers," Maynilad President Ramoncito S. Fernandez said during a public consultation hearing on Monday.

"By reducing the necessary tariff increase, we're making water services more affordable, making life better for the communities we serve," he added.

According to Maynilad, extending the RCA will also help the company improve its operational and financial capabilities, and enable it to provide consumers with affordable water service without undue uncertainty or delay.

Currently, Maynilad operates under the RCA with MWSS, an agreement that is set to conclude on 6 May 2037. Under Republic Act 11600, struck on 10 December 2021, Maynilad's franchise is slated to span a quarter-century, extending through to 2047.

Maynilad recently announced a massive P85 billion investment program for the 10-year extension. The plan is focused on improving the quality of service to existing customers and expanding its operational scope.

It plans a major expansion of its water services, to provide clean water to an extra 200,000 people. This expansion will increase its served population from 11.6 million people in 2037 to 11.8 million people by 2047 within the designated concession area.

The company's strategic vision includes growth in both domestic and non-domestic customer bases, with plans to facilitate 40,383 new water service connections.