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Manila Bulletin devider Business devider Maynilad foregoes yearly water rate adjustments for 2021

Maynilad foregoes yearly water rate adjustments for 2021

Published Nov 3, 2020 01:49 pm

West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) is forgoing the rate increases it is qualified to implement in the coming year, including the next tranche of the rate rebasing adjustment as well as the mandated Consumer Price Index (CPI) adjustment. 


"With this deferral, Maynilad hopes to alleviate the day-to-day struggles of its customers as they and the whole country strive to recover from adversity and rise stronger than before, ready to start anew," Maynilad said in a statement.

"During these difficult times when no one is spared the economic impact of the COVID-19 pandemic, Maynilad is one with the government in finding ways to help our countrymen make the situation more manageable," it also said. .  

Done every five years, rate rebasing is review of water utilities' past performance and the projection on their future cash flows. 

It is supposed to set the water rates at a level that would allow both Maynilad and Manila Water Company Inc. to recover their expenditures and earn a rate of return.

For 2020, Maynilad, as well as Manila Water, also volunteered to defer the implementation of the next tranche of annual rate hike approved under the current rate rebasing period, which started in 2018. 

Their decision came as both companies were being scrutinized by no less than President Rodrigo Duterte for their allegedly onerous contracts with Metropolitan Waterworks and Sewerage System (MWSS).  

To be implemented in tranches from 2018 to 2022, the approved increase in Maynilad's rates under the fifth rate rebasing period would be P5.73 per cubic meter (/cu. m.).

For this year, it was supposed to increase its rates by P1.95/cu.m, then another P1.95/cu.m in 2021.   

The CPI adjustment, on the other hand, is the annual inflation adjustment and takes place every January.

Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. 

It is the agent and contractor of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain portions), Quezon City (certain portions), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite Province.

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