Philippine Water Utility Wins $67.5M Award In Tariff Row

By Natalie Olivo (July 25, 2017, 1:30 PM EDT) -- The Permanent Court of Arbitration has ordered the Philippine government to fork over 3.42 billion Philippine pesos ($67.5 million) to a privatized water utility after blocking the company from increasing tariffs since 2013, a local news outlet reported Tuesday.

The Netherlands-based dispute resolution body issued the award to Maynilad Water Services Inc. to cover what the utility said it lost after the government in January 2013 prevented Maynilad from increasing its rates, according to a report from the Philippines-based Business Mirror.

The report noted that the three-judge tribunal's award covers losses Maynilad said it incurred from March 11, 2015, through August...

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