Manila Water foreign currency tariff differential adjustments to adjusted to 96 centavo per cubic meter   

July 31, 2017

Manila Water Co will have a foreign currency differential adjustment of 3.92 percent of the basic charge or 96 centavo per cubic meter, the firm disclosed before the Philippine Stock Exchange Monday. “The adjustment is based on the exchange rates of $1:P49.8626 and JPY: P45.27,” said Manila Water in its disclosure. It added that this adjustment will take effect 15 days after its publication. Manila Water services the East Zone of Metro Manila, which is a 1,400 square kilometer area that covers 23 cities and municipalities in Metro Manila and Rizal, the firm said in its website. These include Mandaluyong, Makati, Pasig, Pateros, San Juan, Taguig, Marikina, and parts of Quezon City and Manila. The towns of Angono, Baras, Binangonan, Cainta, Cardona, Jalajala, Morong, Pililia, Rodriguez, Tanay, Taytay, Teresa, San Mateo and Antipolo in the province of Rizal are also part of the East Zone. In a text message, Manila Water spokesman Jeric Sevilla said customers should expect a one percent increase in their monthly bills come August 13. For 30 cubic meters consumption, it will be from P608.19 to P614.80, or an increase of P6.61 per month, Sevilla said. For 20 cubic meters consumption, an increase from P296.70 to P301.94 or P5.24 increase monthly, said Sevilla. For regular customers consuming 10 cubic meters, it will be a P1.46 increase mntholy from P135.53 to P136.99, Sevilla said. Lifeline customers or those from marginalized communities consuming 10 cubic meters or less a month are shielded from the adjustment, Sevilla said. The foreign currency differential adjustment is a tariff mechanism formulated to account for foreign exchange losses or gains arising from the payment of Manila Water of concession loans and foreign denominated borrowings of the Metropolitan Waterworks and Sewerage System. DMS