2028-2033 Price Review

Every five years, the Independent Competition and Regulatory Commission (ICRC) reviews how much Icon Water can charge for water and wastewater services.  

The next review will set prices for the period 2028 to 2033.  

As part of the process, the ICRC looks at the:

• cost of delivering safe, high‑quality water and wastewater services
• investments needed to maintain and upgrade essential infrastructure
• impacts of climate, growth, and regulatory obligations
• long‑term financial sustainability of the water network.

Icon Water provides detailed information to the ICRC, including our operating costs, capital plans, service standards, and customer engagement insights. The ICRC then assesses this information and determines the prices for the next five years.

This process ensures prices are set independently, transparently, and in the long‑term interests of the ACT community.  

The 2028–2033 price review will shape how Icon Water:

• maintains and renews ageing infrastructure
• supports new suburbs and population growth
• strengthens water security in a changing climate
• meets environmental and regulatory obligations
• continues delivering safe, reliable services every day.

It also helps customers understand what they are paying for and why.  

A five‑year cycle provides stability for customers and allows long‑term planning for infrastructure, water security and service delivery.  

It ensures prices are set independently, transparently, and in the long‑term interests of the ACT community.  

Icon Water’s prices change on 1 July each year because this is when the ICRC updates the maximum prices we are allowed to charge for water and wastewater services. It reviews our pricing annually to ensure charges remain fair, transparent and cost‑reflective.

To find out more, visit: Our pricing webpage.  

Prices are set by the ICRC - not Icon Water. We provide detailed information about our costs, investments and service needs, but the ICRC makes the final decision.  

The review covers the 2028 - 2033 regulatory period, with new prices taking effect from 1 July 2028.  

To support the ICRC’s independent assessment, we submit a comprehensive pricing proposal that includes:

• operating costs
• proposed prices and revenue recoveries  
• forecasted customer demand
• planned infrastructure investments
• customer engagement insights
• environmental and regulatory obligations
• long‑term planning for growth and water security.

Our proposal includes not only what we plan to do, but how we will do it, showing that our operations are efficient and our investments are responsible. This ensures customers pay no more than is necessary for reliable water and wastewater services.    

The ICRC follows a structured process that includes:

• an issues paper
• Icon Water’s pricing proposal
• public consultation
• a draft decision
• a final decision
• annual price adjustments each 1 July.  

You can participate by:

• making a submission to the ICRC
• taking part in Icon Water engagement activities
• staying informed through updates. 

The ICRC determines prices based on evidence, costs and community input. Any changes will be explained clearly once the ICRC releases its draft and final decisions. 

Water and wastewater prices are set to ensure Icon Water can continue delivering safe, reliable and sustainable services to the ACT community. Several key factors influence how prices are set:

• cost of delivering essential services - the day‑to‑day cost of treating, storing and supplying drinking water, and safely managing wastewater. This includes electricity, chemicals, labour, maintenance and compliance activities
• infrastructure investment - Icon Water invests in long‑term upgrades to treatment plants, pipes and pumping stations to maintain service reliability and support Canberra’s growth  
• customer demand - Prices depend on how much water the community is expected to use. When demand changes, the cost of running the network is shared differently across customers  
• revenue recovery requirements - The ICRC sets prices so Icon Water recovers only the efficient costs of providing services - no more, no less. This ensures customers pay a fair price for the services they receive  
• Government charges and regulatory obligations - Some costs come from government charges and the need to meet laws and regulatory requirements. 

The review sets how prices are calculated. How it affects your bill depends how much water you use, your property type and the final decision made by the ICRC.  

New prices will apply from 1 July 2028, with annual updates each 1 July during the 2028 - 2033 period. 

We know water bills matter to our customers.  We make careful decisions about what to invest in and when, so we can keep services affordable while providing safe and reliable water services every day now and into the future.   

We will share information throughout the review, explain what we are proposing and why, and provide updates at each stage. The ICRC also publishes all key documents and invites public feedback.  

Investment is essential to:

• maintain and replace ageing assets
• support new suburbs and population growth
• strengthen water security
• meet environmental and regulatory obligations
• ensure safe and reliable services every day.  

The review looks at the costs and investments needed to ensure Canberra has a resilient, sustainable water system that can manage drought, the impacts of a changing climate including more extreme weather  and future demand as the city grows.  

Icon Water will provide updates on our website and through emails (you can sign up for these above). The ICRC also publishes all review documents on its website.  

The ICRC is the ACT’s independent economic regulator. Its role is to set fair, transparent prices for essential services, like water and wastewater, so that customers are protected and utilities operate efficiently. Visit the ICRC’s website to learn more.