MANILA -- Maynilad Water Services, Inc. is expected to increase its average basic water charge by 9.89 percent after the Regional Trial Court (RTC) Branch 93 of the Quezon City granted Maynilad’s Petition for Confirmation and Enforcement of Arbitral Award.
“Once the RTC decision confirming the Final Award and ordering its immediate implementation becomes final and executory, Maynilad’s 2017 average basic charge would increase by 9.89 percent which represents the balance of the 13.41 percent rebasing adjustment that has yet to be implemented,” Maynilad’s parent company Metro Pacific Investments Corp. (MPIC) disclosed to the Philippine Stock Exchange Thursday.
The 13.41 percent rebasing adjustment that was proposed by Maynilad was for the Fourth Rate Rebasing Period from January 1, 2013 to December 31, 2017.
The rate adjustments will translate to an average hike of PHP3.41 per cubic meter of the average basic charge this year of PHP34.51 per cubic meter.
This means those households consuming 10 cubic meters or less, they will have an increase of PHP11.56 in their monthly bill.
For those consuming 20 cubic meters per month, the adjustment will translate to a PHP43.76 hike in their monthly bill. (PNA)