UP professor is new MWSS chief regulator
MANILA, Philippines – The Metropolitan Waterworks and Sewerage System (MWSS) has appointed a new chief regulator for its MWSS Regulatory Office.
Joel Yu, a business professor at UP Diliman, will replace former acting Chief Regulator Emmanuel Caparas, who resigned in June.
Yu graduated with a degree in Bachelor of Arts in Economics from UP and took his Master of Science in Industrial Economics at the University of Asia and the Pacific, and Doctorate in Business Administration from UP Diliman.
Caparas, who still sits as board member at MWSS, said his departure the Regulatory Office had nothing to do with the ongoing arbitration on the decision to reduce water rates.
In September 2013, the MWSS ordered Manila Water to reduce rates by P7.24 per cubic meter over a 5-year period or P1.45 per cubic meter a year.
Maynilad, on the other hand, was ordered to cut rates by P1.40 over 5 years or P0.29 per cubic meter a year.
Manila Water and Maynilad challenged the rates and have filed their respective dispute notices with the International Chamber of Commerce.
Water rates remain on status quo implementation until the dispute is resolved.