Icon Water is proposing to increase the cost of water and wastewater services by 4.5 per cent a year over the next five years.
Managing Director of Icon Water, Ray Hezkial said the price proposal for the 2023–28 regulatory period had been submitted to the Independent Competition and Regulatory Commission (ICRC).
“Our proposed investments will result in the combined water and wastewater bill of a typical residential customer using 200kL of water a year increasing by 4.5 per cent, or $1.11 per week,” Mr Hezkial said.
“[The proposal] outlines the investments necessary for us to continue providing reliable water and wastewater services to our community,” he said.
“It also responds to major factors influencing our operating environment and allows us to proactively make plans for ageing infrastructure while supporting a growing ACT population and mitigating the effects of climate change.”
Mr Hezkial said Icon Water expected to invest about $700 million over the 2023–28 regulatory period to renew and upgrade the ACT’s critical infrastructure, including upgrades of wastewater treatment facilities to meet the needs of a growing population.
He said a significant proportion of the ACT’s water and wastewater assets were built in the late 1960s and early 1970s during a period of rapid expansion in Canberra, including the Territory’s main wastewater treatment plant and multiple water reservoirs around the city.
“These responsible investments will support continued quality services for our community whilst laying a sustainable platform for future generations,” he said.
“Our proposed projects will also help us increase our resilience as a community to increasing climate volatility and support Canberra’s growing population.”
Mr Hezkial said ICRC would review and consult on the price proposal before setting water and wastewater prices that would apply from 1 July 2023.
A 42-page overview of Icon Water’s price proposal can be accessed on ICRC’s website at this PS News link.
