Maynilad files dispute notice with ICC
MANILA, Philippines - West Zone water concessionaire Maynilad Water Services, Inc. has filed a dispute notice before Paris-based International Chamber of Commerce (ICC) to challenge the recent rate rebasing done by the Metropolitan Waterworks and Sewerage System (MWSS).
Last month, the MWSS denied Maynilad’s petition for an upward adjustment of 28.35 percent of its average basic charge equivalent to P8.58 per cubic meter , approving instead a negative adjustment of 4.82 percent equivalent to P1.46 per cubic meter to be implemented in five equal tranches of negative 0.964 percent equivalent to P0.29 per cubic meter per charging year.
The lower water rates is suppose to be implemented this month.
The ICC is set to appoint a presiding arbitrator to the Appeals Panel of Maynilad.
Under the concession agreement signed by Maynilad and the MWSS, any disagreement which cannot be resolved through consultation or negotiation between the parties must be resolved through arbitration.
A three-member panel called the Appeals Panel will conduct the arbitration proceedings in accordance with the arbitration rules of the United Nations Commission on International Trade Law.
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