Barwon Water will keep price adjustments to less than CPI this year it announced this week.
Barwon Water said its prices will remain some of the lowest in Australia for similar sized water corporations for the next six years, with annual adjustments only made in relation to the Consumer Price Index (CPI).
The adjustments are in line with its commitment to customers in its 2018-23 Price Submission, which was approved by the Victorian Essential Services Commission.
“Our ongoing investment in delivering our essential water and sewerage services is going to be made in a way that meets the challenges of climate change, population growth, rapid technological development, and a transitioning economy,” Barwon Water Managing Director Tracey Slatter said.
“Since 2017, our aim has been to enable regional prosperity through the affordable, innovative, strategic delivery of our water and sewerage services.”
Ms Slatter said while CPI is 5.1% this year, average owner-occupiers using 160kL per year will see an increase of less than CPI of 4% in their annual bill from July 1, which translates to an additional $3.49 per month for owner/occupiers and $1.27 per month for renters.
“Despite the price changes, Barwon Water customers’ bills remain among the lowest in Australia for similar-sized water corporations; 2022/23 bills for residential owner occupiers are 18% lower than in real terms 10 years ago,” Ms Slatter said.
In addition to announcing the price adjustments for the next financial year, Ms Slatter said Barwon Water’s said the company’s commitment to affordable bills, water security and improving the environment would be on display in its next five-year pricing plan – the 2023-28 Price Submission – a draft of which has been released for community feedback.
“We are looking forward to continuing the genuine community collaboration and engagement that has been a hallmark of the water corporation’s approach over the past five years,” she said.
“We are seeking feedback on our customer proposal to keep future prices stable, fair and low for the next five-year pricing period beginning July 1, 2023, in which prices will remain flat in real terms for the majority of customers.
“In developing the proposed customer promise, prices and services, we have considered customer affordability, operating costs, new infrastructure requirements, current and future challenges, service levels and feedback gathered from customers over the past five years.
“We know our customers want high quality services at affordable prices and we are fully committed to keeping prices stable, supporting our customers who need it the most and making investments for the future.”
Ms Slatter said Barwon Water was seeking customer feedback on its 2023-2028 Price Submission.
It will form the implementation plan for the next phase of the organisation’s refreshed Strategy 2030, which at its core will guide Barwon Water’s mission to enable regional prosperity while it meets the challenges of climate change, population growth, rapid technological development, and a transitioning economy.
Customers are invited to provide feedback on the 2023-2028 Price Submission via an online survey, yoursay.barwonwater.vic.gov.au/deliveringthefuture, which is open until July 29.
