ED Council okays 10-year extension for water concessionaires

The Economy and Development (ED) Council has approved a 10-year extension of the concession agreements for Maynilad Water Services Inc. and Manila Water Company Inc.

This decision, made during the ED Council's inaugural meeting chaired by President Ferdinand "Bongbong" Marcos Jr., aims to ensure the continued provision of safe, reliable, and affordable water to Metro Manila and surrounding areas.

The extension, sought by the Metropolitan Waterworks and Sewerage System (MWSS), will shift the concession end dates from July 31, 2037, to January 21, 2047, aligning them with the companies' legislative franchises.

This strategic move is anticipated to encourage increased capital investments, reduce tariff pressures on consumers, and secure a stable long-term water supply.

Furthermore, the extension is projected to generate an additional P50.3 billion in government revenues.