Maynilad Water Services, Inc.

About the Utility

Maynilad Water Services holds the West Zone Concession under a Revised Concession Agreement signed with MWSS in May 2021, and the Republic has since acknowledged a revised expiry date of 21 January 2047, aligning the concession with the company’s legislative franchise. Maynilad Water Holding Company remains the controlling shareholder with a 66.8% stake, while the company’s initial public offering introduced a public float of 28.8%. Its distribution network stretches from North Caloocan to Cavite Province. Responsibility for raw water rests with MWSS, which must supply a guaranteed minimum volume, while Maynilad treats and distributes potable water and collects and treats sewage and septage.

Water System

Maynilad’s supply rests on surface water: at the end of 2025 the Angat Dam accounted for approximately 83.26% of supply by production capacity, with Laguna de Bay the other principal source, while MWSS is bound to deliver at least 2,400 million litres of raw water a day. Non-revenue water remains the defining efficiency issue; it fell to 30.8% by the end of that year, and the company is targeting further reductions through 2030. Leak repairs rose sharply, supported by district metering across the West Zone, and drinking water met bacteriological standards at every treatment plant and in distribution.

Wastewater System

Wastewater is a core concession service rather than an adjunct to supply, accounting for 20.5% of Maynilad’s revenue in 2025, and by the end of that year sewerage coverage had reached 35.0% of the water-served population, more than 3.6 million customers. The company runs treatment facilities for both sewage and septage and reported treating 72.5 million cubic metres of wastewater during the year; further expansion is built into the concession’s tariff design, which sets a higher rate cap for sewerage services than for water.

Investment & Priorities

Capital spending is set by the sixth rate rebasing period, whose budget totals PHP 163.3 billion for 2023 to 2027. Actual capital expenditure was PhP 26,878 million in 2025, up on the previous year. Tariffs move within regulated limits, and MWSS approved a 2.85% rate adjustment for 2026. Blue bonds form part of the financing, although construction delays at the Ligas Modular Treatment Plant led the board to approve changes to the use of their proceeds.

Sustainability & Resilience

Energy is Maynilad’s main environmental exposure, because grid electricity dominates its energy use and emissions. The company has set a net zero goal for its direct and electricity-related emissions by 2037 and is targeting a 35% renewable energy mix. Resilience depends heavily on raw water from the Angat Dam and on network reliability, now subject to regulatory penalties for prolonged interruptions. In July 2026 GMA News reported, citing PAGASA, that the Angat Dam had fallen to an all-time low of 152.20 metres.

Key Challenges

1. Reducing non-revenue water from 29.7% at end-June 2026 to the 25.0% target for 2027.
2. Protecting service continuity after two regulatory penalties for interruptions in early 2026.
3. Securing raw water while approximately 83.26% of supply capacity depends on the Angat Dam.
4. Delivering the PHP 163.3 billion rebasing capital programme despite treatment-plant delays.
5. Expanding sewerage coverage beyond 35.0% of the water-served population.

Major Projects