In its Resolution No. 2014-054-RO, the appointment of Yu was approved by the MWSS Board of Trustees pursuant to the authority vested on them under Article II of the MWSS By-Laws and Article XI of the Concession Agreement.
Yu is an Associate Professor of the Cesar E. A. Virata School of Business of the University of the Philippines (UP) Diliman. He graduated with a degree in Bachelor of Arts in Economics from UP. He took his Master of Science in Industrial Economics at the University of Asia and the Pacific, and Doctorate in Business Administration from UP Diliman.
He will assume the post vacated by former acting Chief Regulator Emmanuel L. Caparas, who resigned last month.
Why Caparas resigned as acting Chief Regulator?
Caparas relinquished the chief regulator position to allow himself to focus on his tasks as a board member and for the board to appoint a regular chief regulator who will be focused exclusively on the affairs of the MWSS-RO.
Caparas also clarified that his departure from MWSS-RO has nothing to do with the ongoing arbitration on the decision to reduce water rates.
In September 2013, the MWSS has ordered Manila Water to reduce rates by P7.24/cubic meter over a 5-year period or P1.45/cubic meter a year. Maynilad on the other hand, was ordered to slash water rates by P1.40 over 5 years or P0.29/cubic meter a year.
The two water concessionaires filed their respective dispute notices with the International Chamber of Commerce, where both challenged the rates determined by the MWSS-RO. Water rates remain on status quo implementation until this process is completed.