are expected to shell out less for their water bills, as the Ayala-led company inked a new concession agreement with the government.
The new deal removes the clause which allows Manila Water to charge customers for corporate income taxes and adjustment for foreign currency differential. The new agreement, modeled after the joint venture of New Clark City's water and wastewater infrastructure, also imposes a cap on increases in standard rates for water and wastewater.
In addition, the new concession agreement removes the non-interference clause which was in the old deal. This means that the government will no longer be held liable for company losses when fulfilling its regulatory functions to protect consumers.
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