Manila Water Co. Inc., one of two water concessionaires in Metro Manila, said Monday it secured the approval of the Metropolitan Waterworks and Sewerage System for a foreign currency adjustment that will increase water tariff by 2 percent starting 1 October.As a result, Manila Water said, customers of the water concessionaire controlled by billionaire Enrique Razon Jr. will see an increase in their water bills due to a Foreign Currency Differential Adjustment.
It said the adjustment, which amounts to 2 percent of the 2024 average basic charge of P42.26 per cubic meter, translates to an additional P 0.86 per cubic meter. On average, however, the tariff increase will be P0.88 per cubic meter, it added.
The FCDA is a pass-through charge established under the Amended Revised Concession Agreement between MWSS and Manila Water.
Its purpose is to address foreign exchange losses or gains associated with specific concession loans detailed in the agreement. Importantly, the adjustment is designed to cover currency fluctuations without impacting the the listed water concessionaire’s projected net income.
