No water rate hike in next 3 months Louise Maureen Simeon (The Philippine Star) – June 15, 2019 – 12:00am MANILA, Philippines — Consumers will not have to pay higher water rates in the next three months after the Metropolitan Waterworks and Sewerage System (MWSS) deferred an upward adjustment of rates. The MWSS Board of Trustees has deferred the implementation of the foreign currency differential adjustment (FCDA) for the third quarter pending the assumption of office of the newly appointed administrator. “This is beneficial for the consumers because the initial computation for this quarter is an upward adjustment in the tariff, which will now be deferred until the next quarter,” MWSS chief regulator Patrick Ty said. Initial computations showed the upward adjustment would have been P0.03 per cubic meter for west zone concessionaire Maynilad Water Services Inc. and P0.18 per cubic meter for the east zone handled by Manila Water Co. Inc. The FCDA was supposed to be effective starting July 1. FCDA is the tariff mechanism granted to utility companies to allow them to recover losses or give back gains arising from the fluctuating movements of the peso against other currencies as the concessionaires pay foreign-dominated fees as well… Read full this story
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