Regulator calls for stakeholder feedback on Goulburn-Murray Water’s new proposed maximum prices for customers

The Essential Services Commission is seeking stakeholder feedback on how much Goulburn-Murray Water is proposing to charge its customers for water services over the next 4 years, as part of the commission’s 2024 water price review.

The commission has received a pricing submission from Goulburn-Murray Water which details the maximum amount the business proposes to charge its customers over the 4-year period starting on 1 July 2024.

In the pricing submission, Goulburn-Murray Water proposes a decrease in the typical gravity irrigation customer bill and the typical regulated diverters bills over the 4-year period, before inflation. Unregulated diverters, and pumped irrigation customers may see higher typical bill increases before inflation.

The commission will consider stakeholder feedback and assess the submission against a legal framework set out in the Water Industry Regulatory Order, and the commission’s Performance, Risk, Engagement, Management and Outcomes (PREMO) framework. The commission will then issue a final decision that sets the maximum prices that Goulburn-Murray Water may charge its customers from 1 July 2024.

Executive director of pricing and regulation Marcus Crudden said as with the 2023 water price review completed in June this year, Goulburn-Murray Water was required to consult with its customers when developing its pricing submission.

“The commission’s framework includes incentives for each water business to put forward its best offer and deliver the services customers value most,” said Mr Crudden. "We’re now inviting stakeholders to provide feedback on the pricing submission to help inform our decision on the maximum prices that Goulburn-Murray Water can charge its customers.”

Mr Crudden said public feedback would be one of many factors considered by the commission over the next few months.

“This is an important issue and we’ll be looking at a range of factors like how Goulburn-Murray Water has engaged broadly with its communities, whether it has delivered on previous promises, and the prudency and efficiency of proposed expenditure,” he said.

Stakeholders have until 15 December 2023 to comment on the Goulburn-Murray Water price submission via the Engage Victoria website.

The commission will issue a draft decision for each business for consultation by late March. The final price decisions are expected in early June.