Maynilad gets court backing on rate hike

ABS-CBN News

Posted at Sep 14 2017 03:59 PM

MANILA - Metro Pacific Investments Corp. said Thursday a Quezon City court ordered regulators to implement an arbitration ruling that favored its water unit's petition for a rate hike. 

Once the Aug. 30 order by the court becomes final, Maynilad Water Services' average basic charge this year will increase by 9.89 percent, or P3.41 per cubic meter, Metro Pacific said in a statement.

This would result in a P11.56 increase in the monthly bill of those who consume P10 cubic meters or less or P43.76 for those who consume at least 20 cubic meters monthly.

Last July, the government was also ordered to pay Maynilad P3.42 billion over losses it allegedly incurred due to a delay in the implementation of a hike in tariffs. --with a report from Michelle Ong, ABS-CBN News