MANILA - Maynilad Water Services on Tuesday said it will defer its rate increase scheduled for next year as consumers continue to reel from the pandemic.
"Maynilad is forgoing the rate increases it is qualified to implement in the coming year—specifically the already-approved rebasing adjustment for 2021, as well as the mandated CPI inflation increase for the year," it said in a statement.
The MWSS RO-approved rebasing adjustment for 2021 is an increase of P1.95 per cu.m. in the basic charge, which would have been the third tranche of the staggered implementation for the 2018-2022 rebasing period.
The second tranche meant for implementation this year has also been deferred.
"Meanwhile, the CPI adjustment for 2021 is 2.7 percent of the Basic Charge, so that would have been an additional P1.03 per cu.m. increase in 2021," it said.
In October, Maynilad and Manila Water implemented a reduction in water charges due to a decrease in the foreign currency differential adjustment (FCDA).
Maynilad services the West Zone of the Metro Manila concession area covering Manila, certain areas in Quezon City, Makati City, Caloocan, Pasay, Paranaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon as well as select areas in Bacoor, Imus and the towns of Kawit, Noveleta and Rosario in Cavite.