HIGHER water rates may await customers of Maynilad Water Services, Inc. This comes after the Court of Appeals (CA) affirmed a lower court’s ruling upholding Maynilad’s entitlement to the inclusion of corporate income tax in its tariff and the rebasing adjustment that Maynilad had proposed for January 1, 2013 to 31 December, 2017. Instead, MPIC said the Court of Appeals affirmed the Regional Trial Court (RTC) of Quezon City’s 2017 decisions confirming the Final Award dated December 29, 2014 issued in the arbitration between Maynilad and the MWSS, and ordered its immediate implementation by MWSS. “As previously disclosed, the Final Award upheld Maynilad’s entitlement to the inclusion of corporate income tax in its tariff, and the 13.41% Rebasing Adjustment that Maynilad proposed for the Fourth Rate Rebasing Period — 1 January 2013 to 31 December 2017,” it said. This also ensures the continued implementation of Maynilad’s capital expenditure projects that are intended to benefit further our customers,” Maynilad President Ramoncito Fernandez was quoted as saying in the statement.

Source: Manila Times June 14, 2018 03:45 UTC