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Manila Bulletin devider Business devider Manila Water seeks contract extended until 2047

Manila Water seeks contract extended until 2047

Razon-led firm commits P1.15 trillion investments

Published Sep 18, 2023 03:45 am

At A Glance

  • Razon-led Manila Water Co. Inc. has applied to Metropolitan Waterworks and Sewerage System (MWSS) for an extension of its concession agreement from 2037 to 2047.<br>Manila Water has committed to investing P1.15 trillion, with an additional P475 billion allocated for the 10-year extension.<br>The extension aims to benefit the expected 9.5 million east zone consumers by 2047, resulting in lower water bills.<br>The projected capital and operating expenses for Manila Water from 2023 to 2037 amount to approximately P674 billion. If the concession term ends in 2037, water bills are estimated to increase by 200% by the end of 2037.<br>However, extending the concession term until 2047 would spread out the expense recovery, reducing the impact of tariff increases.<br>MWSS has invited the public to submit comments and feedback on Manila Water's application, with a deadline of Oct. 18, 2023.

Razon-led Manila Water Co. Inc. has submitted an application for extension of its concession agreement with the Metropolitan Waterworks and Sewerage System (MWSS) from 2037 to 2047.

In a position paper dated Aug. 25, 2023 but was made public on Monday, Sept. 18, Manila Water is seeking MWSS’ approval for an extension of its revised concession agreement (RCA) for another 10-years, from July 31, 2037 to July 31, 2047.

According to its regulatory filing, the east zone water concessionaire has pledged to invest an additional P475 billion for the 10-year extension, resulting in a total investment of P1.15 trillion.

Manila Water has stated that the extension of the concession agreement will lead to lower water bills for the expected 9.5 million east zone consumers by 2047.

The company estimated that it will to need approximately P674 billion for capital and operating expenses from 2023 to 2037.

If the concession term ends in 2037, this would lead to a 200 percent increase in water bills by the end of 2037.

However, extending the concession term until 2047 would spread out the expense recovery over an additional 10 years, thereby reducing the impact of tariff increases on consumers.

To provide an illustration, Manila Water highlighted that for residential customers with an average monthly consumption of approximately 30 cubic meters, their water bill would increase to around P1,988 if the concession term ends in 2037.

This is more than three times the monthly bill in 2022, which was P622.

However, by extending the concession term until 2047, the projected water bill would be reduced to P1,639 in 2037, according to the utility firm.

“With 26 years of providing and improving water and wastewater services in the East Zone, Manila Water believes that it is the best positioned to continue to serve the East Zone in the next 24 years,” the company said.

Meanwhile, MWSS has invited the public to submit their comments and feedback on Manila Water's application for a concession agreement extension.

The deadline for submitting comments is Oct. 18, 2023.(Gabriell Christel Galang)

Related Tags

Manila Water Co. water supply Metropolitan Waterworks and Sewerage System (MWSS)
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