PRESS RELEASE
The Board of Trustees of the Metropolitan Waterworks and Sewerage System (MWSS) has approved the implementation of the 2020 second quarter Foreign Currency Differential Adjustment (FCDA) for Manila Water Company, Inc. (MWCI) and Maynilad Water Services, Inc. (MWSI).
Manila Water Company, Inc.
MWCI will implement an FCDA of 1.69% of its Average Basic Charge of Php28.52 per cubic meter or Php0.48 per cubic meter. This is an downward adjustment of Php0.21 per cubic meter compared to the 1st quarter 2020 FCDA of Php0.69 per cubic meter.
The impact of the second quarter FCDA to MWCI residential customers consuming 10 cubic meters or less, except lifeline customers, are expected to have a decrease on their monthly bills of Php1.11 per month. MWCI lifeline customers are exempt from the quarterly FCDA charges. Those consuming 20 cubic meters per month and 30 cubic meters per month will go down by Php2.46 and Php5.02 respectively.
MWCI provides water and wastewater services primarily to the East Zone concession area covering the Cities of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig and Marikina. It is also in charge of the southeastern parts of Quezon City, and Sta. Ana and San Andres in Manila. In the Province of Rizal, MWCI services the City of Antipolo and Municipalities of San Mateo, Rodriguez, Cainta, Taytay, Teresa, Angono, Baras, Binangonan, and Jala-jala.
Maynilad Water Services, Inc.
MWSI will effect an FCDA of negative 0.21% of its 2020 Average Basic Charge of Php36.24 per cubic meter or negative Php0.08 per cubic meter. This is an upward adjustment of Php0.05 per cubic meter compared to the 1st quarter 2020 FCDA of negative Php0.13 per cubic meter.
MWSI residential customers consuming 10 cubic meters or less are expected to see their monthly bills go up by Php0.18; the monthly bills of those consuming 20 cubic meters per month and 30 cubic meters per month will increase by Php0.69 and Php1.40, respectively.
MWSI provides water and wastewater services to residents in most parts of Manila; northern and western parts of Quezon City; western parts of Makati; and the Cities of Caloocan, Pasay, Parañaque, Las Piñas, Valenzuela, Muntinlupa, Navotas, and Malabon in Metro Manila. It also serves the Municipalities of Meycauayan and Obando in the Province of Bulacan; and the Cities of Cavite, Bacoor and Imus, and Municipalities of Kawit, Noveleta, and Rosario in the Province of Cavite.
Amendment No. 1 of the Concession Agreements of MWCI and MWSI with MWSS provide the FCDA as a tariff mechanism to recover or compensate for fluctuations in foreign exchange rates. Gains and losses can arise from the payment of concession loans and foreign currency-denominated debt whose proceeds are used to improve services.
(sgd.)
PATRICK LESTER N. TY
Chief Regulator
