TasWater has acknowledged and welcomed the Tasmanian Economic Regulator’s final pricing determination, which will see water and sewerage prices across the state increase 5.7% per year from 1 July.
The determination follows the Tasmanian Economic Regulator’s independent assessment of TasWater’s fifth Price and Service Plan (PSP5) proposal and extensive public consultation.
TasWater Chief Financial Officer, Kane Ingham said the final pricing determination provides clarity for the next four years and allows the business to move forward.
“Whilst the outcome results in price increases below those proposed by TasWater, we respect the Regulator’s decision and will now focus on delivering the service standards and investments approved,” Mr Ingham said.
“Our PSP5 proposal was supported by our most extensive engagement program to date, more than 8,000 Tasmanians contributing through surveys, community events, panels, industry workshops and targeted discussions.
“The message from the community was clear: Tasmanians expect reliable services, healthy waterways, secure water supplies and greater control over their water and sewerage bills, and they also told us that delaying necessary investment is neither responsible nor fair.
“We understand that cost of living pressures are real for many Tasmanians, and we welcome the Regulator’s approval of a boost to our TasWater Assist program. This will ensure additional support is available for customers who need it most.”
TasWater said the determination does not change the underlying challenges facing Tasmanians’ water and sewerage infrastructure.
“Our assets are ageing, and without sustained investment the risk of system failures, bursts, environmental harm and service interruptions will continue to grow,” Mr Ingham said.
“Our PSP5 proposal outlined the critical need for investment to achieve environmental compliance, improve network reliability, respond to climate change, reduce the frequency of water restrictions and build capacity in our systems to enable social housing and meet new development projections.
“Within the approved capital investment of $1.2 billion, we will prioritise the most critical projects, while other works will need to be deferred beyond 2030 and for this, we are sorry.
“However, deferring investment does not remove the challenge, our water and sewerage infrastructure requires ongoing, unavoidable investment to remain safe, reliable and environmentally compliant for future generations. While we recognise that investing for the future comes at a cost, we remain committed to balancing essential infrastructure investment with affordability as we work to secure Tasmania’s water future.”
For more information on TasWater’s Price and Services Plan, visit: Our water future.
