MWSS defers rate adjustment for 3rd quarterBy The Manila TimesTHE Metropolitan Waterworks and Sewerage System (MWSS) decided to delay its rate adjustment for the third quarter as its administrator has yet to assume his post. “The Board of Trustees of the Metropolitan Waterworks and Sewerage System (MWSS) has deferred the implementation of the 3rd quarter FCDA [foreign currency differential adjustment] adjustment until the next quarter, pending the assumption of office of the newly appointed administrator,” the MWSS said in a statement on Thursday. FCDA is a tariff mechanism accorded to utility companies to address the foreign exchange gains and losses from the payment of concession loans and foreign currency denominated debts. “This is beneficial for the consumers because the initial computation for this quarter is an upward adjustment in the tariff, which will now be deferred until the next quarter,” it added. JORDEENE B. LAGARE

Source: Manila Times June 13, 2019 12:11 UTC