Philippines News Archives

Tuesday, December 05, 2000

AC ( 12/05/2000 : AFX )
Ayala Corp unit Manila Water Co Inc may not receive the whole of the 0.23 peso per cubic metre increase it is asking for implementation in January next year, BusinessWorld quoted Metropolitan Waterworks and Sewerage System (MWSS) chief regulator Rex Tantiongco as saying. Tantiongco said future losses or foregone revenues will not be recognised in the rate adjustment. He said that Manila Water included some 660 M pesos in foregone revenues until December 2001 in its rate hike computation. Manila Water said the unrealised revenues were brought about by the delay in the Umiray-Angat transbasin project which was completed in July last year instead of June. Tantiongco said the MWSS will decide on the rate hike bid on or before Dec 15. At present, Manila Water charges 2.76 pesos per cubic metre.
- posted by StockMarket @ 9:44 PM

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