MANILA, Philippines — The Metropolitan Waterworks and Sewerage System (MWSS) on Saturday said it had called on Manila Water Co. Inc. and Maynilad Water Services Inc. to defer rate hikes they had planned to implement on Jan. 1. The two companies are claiming losses for the nonimplementation of rate hikes intended for the five-year rebate rebasing period that began during the administration of President Benigno Aquino III. Quarterly adjustmentsOn top of this, the concessions allow quarterly water rate adjustments to account for fluctuations in the foreign currency exchange rate. ADVERTISEMENT“Manila Water, through a letter dated Dec. 3 addressed to the MWSS board, already expressed its intention to work out an arrangement on the implementation for the [rate] adjustment,” the MWSS RO said in a statement. ‘Water concession scandal’Reacting to a comment to one of his tweets, the country’s top diplomat said no one disputed that costs were entailed in bringing water to the taps.

Source: Philippine Daily Inquirer December 07, 2019 21:11 UTC