MANILA, Philippines - Customers of Maynilad Water Services Inc. will pay P0.07 to P0.54 per cubic meter less beginning next month.
Maynilad said it would be able to implement the reduction because of the P0.19 per cubic meter decrease in its foreign currency differential adjustment (FCDA) resulting from the strong performance of the peso.
Unsewered consumers will enjoy a decrease in their monthly bills ranging from P0.07 per cubic meter to P0.46 per cubic meter depending on their consumption and classification.
Water bills of sewered consumers will reflect reductions ranging from P0.08 per cubic meter to P0.54 per cubic meter.
The FCDA is a mechanism that allows the concessionaires to recover foreign exchange currency losses or refund foreign exchange currency gains arising from payment of foreign currency denominated loans.
Maynilad concession area covers most of Manila, as well as areas west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Ave., Holy Spirit, and Batasan Hills in Quezon City. Its concession areas also include Osmeña Highway in Makati City as well as Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon.
The municipalities of Bacoor, Imus, Kawit, Noveleta and Rosario in Cavite province are also covered by Maynilad.
Manila Water concession covers some parts of Quezon City and Makati, Taguig, Pateros, Marikina, Pasig, San Juan, Mandaluyong, south eastern part of Manila and Rizal province.
Earlier, the Metropolitan Waterworks and Sewerage System (MWSS) also approved Manila Water Co.’s reduction in water rates, effective July 1 to Sept. 30, 2010.
MWSS granted Manila Water’s reduction in its FCDA of P0.27 per cubic meter.