Households will save about $26 a year on water and sewerage bills following a ruling from the independent commission on the maximum the ACT water supplier is allowed to charge.
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Icon Water will drop total prices approximately 2.2 per cent, maintaining the maximum price the supplier can pass on to consumers.
Households will save around 50 cents per week from July 1, with sewerage supply charges, flushing charges and water usage charges dropping.
Maximum water and sewerage charges for 2022-23 will decline for both residential and non-residential customers, following the Independent Competition and Regulatory Commission ruling.
Senior Commissioner Joe Dimasi said an average non-residential customer consuming 5000kL per annum with 50 flushable fixtures installed will see their bill decrease by $2186 per annum.
The decrease in the water usage charge will reflect Icon's lower cost of debt, a lower than forecast water abstraction charge set by the ACT government and an adjustment to take the 2019-20 water abstraction charge into account.
The charge developers pay to Icon Water to fund infrastructure upgrades will decrease to $1094 per equivalent population, down from $1200 in 2021-22.
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The Commission said the decrease reflected changes in population projection, the COVID-19 impact and higher level of infill proposed in the ACT Planning Strategy - delivering up to 70 per cent of new housing within existing urban development, up from 50 per cent.
An Icon Water spokesman said water abstraction charges were lower than expected as a result of lower consumption in 2021-2022, mostly attributed to wet weather.
While prices are still determined in accordance with the Independent Competition and Regulatory Commission's 2018-23 price direction, Icon are reaching the end of the regulatory period, the spokesman said.
"Icon Water is finalising its 2023-28 Price Proposal, which will set our plan for the 2023-28 regulatory period, including our customer service levels, upcoming expenditure and investments, and proposed customer prices," the spokesman said.
"The Commission will assess our Price Proposal and will later publish a determination on the prices Icon Water can charge for water and sewerage services over the 2023-28 regulatory period."
Alex Crowe
Alex covers science and environment issues, with a focus on local Canberra stories. alex.crowe@austcommunitymedia.com.au
Alex covers science and environment issues, with a focus on local Canberra stories. alex.crowe@austcommunitymedia.com.au
