Water rates mixed after tariff changes
The adjustment reflects fluctuations in foreign exchange rates affecting foreign currency-denominated loans, which will impact the tariffs of the water concessionaires
The adjustment reflects fluctuations in foreign exchange rates affecting foreign currency-denominated loans, which will impact the tariffs of the water concessionaires
Water consumers in Metro Manila and neighboring provinces will see changes in their water bills starting in October due to the Metropolitan Waterworks and Sewerage System’s (MWSS) latest tariff adjustments.
MWSS Chief Regulator Patrick Lester N. Ty confirmed on Monday that the Board of Trustees (BoT) has approved the 2024 Fourth Quarter Foreign Currency Differential Adjustment (FCDA).
The adjustment, he said, reflects fluctuations in foreign exchange rates affecting foreign currency-denominated loans, which will impact the tariffs of the water concessionaires.
For Manila Water, which serves the east concession area, the FCDA will increase.
The adjustment for the fourth quarter will be 2.03 percent of this year’s Average Basic Charge of P42.26 per cubic meter, translating to an increase of 86 centavos per cubic meter.
Tariff cut
In contrast, Maynilad, operating in the west zone, will see a decrease in its tariffs.
The FCDA adjustment for Maynilad will be 0.62 percent lower than its 2024 Average Basic Charge of P47.57 per cubic meter, leading to a reduction of 29 centavos per cubic meter.
Ty reiterated that the FCDA is designed to adjust water tariffs based on the impact of foreign exchange rate movements on foreign currency loans used for enhancing water and sewerage services, ensuring that concessionaires neither under-recover nor over-recover costs due to currency fluctuations.
He added that the adjustments are part of a broader system aimed at maintaining financial stability for water service providers while ensuring the continued improvement and reliability of water services.
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