SUBICWATER WANTS TO CHARGE 19.5% MORE

June 14, 2014July 17, 2014 Vic Vizcocho 0 Comments

10455642_10203605885420592_633700210746500070_n — 2nd Public Hearing on Subicwater's plan to raise tariff, Eng'r Pol Tiglao delivers a presentation at the Subic Bay Exhibition and Convention Center. SBNphoto by Vic V. Vizcocho, Jr.

Subicwater wants to raise the cost of water it will charge consumers in the Subic Bay Freeport and Olongapo City.

Despite reporting a net income of P196 M for the Fiscal Year ended March 31, 2014, it has petitioned for a 19.5% increase on water rates, prompting the Subic Bay Water Regulatory Board to conduct a series of public hearings.

According to Edna Canlas, chief operating officer of Subicwater, the increase is necessary for the company’s capital expenditures (capex).

David Porter of Subic.Com expressed the general sentiment of investors and residents present that the double figure increase is “way too high” and that Subicwater should infuse capital first instead of raising the same from consumers.

“It’s Subicwater’s business, thus, they must provide the capital,” Porter said.

If approved as petitioned, the increase will take effect on October 1, 2014. (VVV)

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