Customers of Maynilad Water Services Inc. and Manila Water Company Inc. will pay higher rates in April because of the fluctuation in the peso-dollar exchange rate, the two concessionaires said Monday.
Maynilad and Manila Water said the water rate hike was due to the so-called foreign currency differential adjustment.
FCDA is a tariff mechanism granted to utility companies to allow it to recover losses or give back gains arising from the fluctuating movements of the peso against other currencies.
“Maynilad pays foreign-denominated concession fees to the Metropolitan Waterworks and Sewerage System as well as loans to fund projects that will improve service for its customers,” Maynilad said, in explaining FCDA.
Residents in the west zone served by Manilad would experience a P0.12-per-cubic meter or 0.34-percent increase in the average basic charge of P33.87 per cubic meter.
The adjustment would take effect in the second quarter, or from April 1 to June 30 this year. It was higher than the FCDA of P0.05 per cubic meter in the first quarter.
Maynilad customers consuming 10 cubic meters or less every month will see their water bill increase by P0.15 from P115.76 to P115.91, while those consuming 20 cubic meters a month will see their monthly water bill increase from P433.57 to P434.14, or a difference of P0.57.
Meanwhile, households consuming 30 cubic meters a month will have an increase of P1.17 in their monthly water bill, from the current P885.02 to P886.19.
Manila Water said the FCDA adjustment in the second quarter would be equivalent to P0.26 per cubic meter or 1.04 percent of the company’s average basic charge of P24.89 per cubic meter.
The amount is also higher than the first-quarter FCDA of P0.15 per cubic meter.
Manila Water said for those consuming 10 cubic meters a month and not belonging to lifeline consumers, their monthly bill would increase by P0.59 from P133.06 to P133.65, while those consuming 20 cubic meters a month would see an upward adjustment of P1.31 from P293.26 to P294.57.
Customers who consume 30 cubic meters will see an increase of P2.67 a month in their monthly water bill from P597.04 to P599.71.