Regulator gives preliminary approval for Yarra Valley Water’s pricing plan

The Essential Services Commission has given preliminary approval to Yarra Valley Water’s five-year pricing submission that will see water and sewerage bills change by less than inflation in the two years from 1 July 2023.

Before inflation, a typical household’s annual water and sewerage bill will be cut from $1,034 currently to $986 in 2023‑24, before a further reduction in 2024-25 to $956, with bills then remaining steady until 30 June 2028.

The commission’s executive director of pricing, Marcus Crudden, said water businesses were required to engage with customers when developing pricing plans.

“Yarra Valley Water has set out a comprehensive plan for delivering tangible benefits to its customers, with price changes that are lower than inflation in the near term, and targeting service improvements informed by its engagement,” Mr Crudden said.

“It’s proposed initiatives for delivering greater water savings and looking after the natural environment, investing in climate resilience and reducing carbon emissions by targeting a net zero position by 2025. Other investments support population growth while providing quality customer support programs.”

Yarra Valley Water’s submission also considers Traditional Owners and Custodians and Aboriginal communities, embedding Caring for Country in decisions including its approach to delivering on outcome commitments.

Mr Crudden said the quality of Yarra Valley Water’s submission meant the commission was able to make a draft pricing decision earlier than expected.

“We’re now inviting feedback on the draft decision and comments can be made via the Engage Victoria website or by attending a public forum, which we expect to hold in February next year,” he said.

Details of the forum will be made available on the Engage Victoria website and all feedback should be made to the commission by 10 March 2023.

The commission’s final decision is expected to be delivered in May 2023.