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Manila Bulletin devider Business devider MWSS starts public consultation on FCDA

MWSS starts public consultation on FCDA

Published Jul 30, 2024 12:24 pm

The Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS-RO) has begun discussions on the draft guidelines for determining rate adjustments for Manila Water Co. and Maynilad Water Services Inc.

On Tuesday, July 19, a public consultation was held regarding the Foreign Currency Differential Adjustment (FCDA) aligned with the revised concession agreement (RCA) that has been established with the two concessionaires.

The FCDA functions as a rate adjustment mechanism that enables the timely recovery or compensation of accrued foreign exchange losses or gains arising from loan payments as specified in Section 9.8 of the amended RCA.

The MWSS-RO conducts quarterly reviews of the FCDA and makes adjustments as deemed necessary.

Patrick Lester N. Ty, the chief regulator of MWSS-RO, said the purpose of the public consultation, which representatives from Manila Water and Maynilad attended, is to gather consumer and stakeholder feedback before finalizing the FCDA.

“We will ensure that these guidelines will be geared towards further protecting and safeguarding the welfare and interests of the public by ensuring that there will be no over or under collections,” Ty said during the public consultation.

Ty, however, said the adjustment does not necessarily imply higher water bills for consumers, as this is influenced by foreign exchange rates.

"If the peso is lower, our water bill may go up; if the peso is stronger, there could be a rollback in the water bill," Ty said.

Related Tags

Foreign Currency Differential Adjustment (FCDA) Metropolitan Waterworks and Sewerage System-Regulatory Office MWSS RO
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