Sydneysiders to pay $475 more on water bills by 2030
The average Sydney household's yearly water bill will increase by $475 over the next five years after a review to increase benchmark water costs.
The Independent Pricing and Regulatory Tribunal (IPART) today confirmed it has set the maximum prices that Sydney Water and WaterNSW can charge residents in the greater Sydney area from next month.
Under this decision, the typical household bill will jump by 11.8 per cent annually including inflation – rising from $1220 per year to $1388 in 2025/26 and $1695 by 2029/30.
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Sydneysiders will face a hike in their water bills from next month. Brook Mitchell
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That's an increase of $168 by next year and $475 over the next five years.
The tribunal tempered a potential higher rise proposed by Sydney Water, which it said would increase the average bill to $1913 plus inflation by 2029.
IPART's tribunal chair Carmel Donnelly said IPART's maximum prices means households will save $84 next year and $218 per year by 2029 compared to Sydney Water's proposed price hike.
"We recognise these increased bills come at a time of cost-of-living pressures and are likely to be challenging for some customers," Donnelly said.
"IPART has recommended the Government expand eligibility for water bill rebates to include all Health Care Card and Low Income Health Care Card holders."
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The tribunal said it has set the maximum prices that Sydney Water and WaterNSW can charge residents. Bloomberg via Getty Images
Donnelly said the price increases will fund Sydney Water and WaterNSW $548 million and $36 million respectively in revenue every year to deliver "safe and reliable" water services.
The price changes are due to kick in on October 1.
IPART confirmed its decision to set a maximum price increase in a 146-page report released today.
The proposed increases were put forward by Sydney Water after the service said the city is expected to grow by 300,000 new homes by 2029/30.
WaterNSW last month announced plans to cut hundreds of jobs, including gutting its senior leadership team by 30 per cent.
A spokesperson for WaterNSW told 9news.com.au it was unable to "continue delivering its current functions" ahead of the the IPART decision and would need to claw back $80 million each year in cost savings.
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