The Essential Services Commission (ESC) released its finalised pricing decision for four of Victoria’s 17 water corporations – Yarra Valley Water, South East Water, East Gippsland Water and Westernport Water, ensuring some of the lowest water bills in the country.
The decision will keep Melbourne’s water prices lower than Sydney (by $82), Canberra (by $133), Adelaide (by $162) and Darwin (by $743) each year.
Despite being the fastest growing state in the country, the State Government has worked with water corporations to keep water prices low. Water bills fell three per cent last year and between four and eight per cent before that.
In the metro area, the average typical household bill will fall by around $30 to $40 a year – saving between $150-$200 over five years – relieving cost of living pressures for Victorians.
The Victorian Minister for Water, Lisa Neville, said they’ve worked hard to ensure water corporations keep prices low for Victorian families.
“These are good numbers that will relieve real cost of living pressures for Victorians.
“We’re boosting water security and building the infrastructure Victorians need, while keeping water bills down.”
All proposed increases are thoroughly assessed by the ESC to ensure they are fair and tied to new services or infrastructure as the sector adapts to the challenges of population growth and increased demand.
Victoria’s growth is putting pressure on water infrastructure, prompting the Labor Government to focus on delivering water security with key investments such as the desalination plant, the Connections Project and the Lance Creek pipeline project in Gippsland.
The Labor Government has invested $690 million over the last four years to protect Victoria’s water supply and support a healthy environment, including $215 million for water and irrigation infrastructure.
This ongoing investment for water and sewerage services not only provides water security, it drives regional economic growth, and provides environmental and recreational benefits – to protect communities and jobs.
Pricing decisions for other water corporations will be finalised in June 2018.