MANILA Water and Maynilad Water will charge higher rates before the end of this month to adjust for inflation and recover foreign exchange losses, the concessionaires said yesterday.

Listed Manila Water told the Stock Exchange it would add an average P2.27 per cubic meter to its basic charge. Households consuming 15 cubic meters or less would pay an extra P17 each month, and those using 30 cubic meters P49 more.

Maynilad said it would add P2.81 per cubic meter of water used, but consumers using 10 cubic meters or less would be exempted.

Manila Water serves 5.6 million customers in Metro Manila?s east zone, while Maynilad serves six million customers in the west zone.

The state-run Manila Waterworks and Sewerage System said it allowed the two concessionaires to charge only for inflation and to recoup their foreign exchange losses from the weak peso.

It said it decided to continue deferring action on the water firms? plea to charge higher rates until it had studied their spending programs.

?The impact [of the deferment] on the financials of the company will be limited,? said Luis Juan Oreta, Manila Water?s chief finance officer.

?The impact would be more on the capital expenditure, especially if the deferment persists for a long time.? Jenniffer B. Austria