Media Statement by Managing Director John Knox - Icon Water bills decrease from July 2018

May 1, 2018

Today’s announcement of a fall in the price of water and sewerage services is good news for all segments of the Canberra community.

The average residential customer (using 200kL of water per annum) will see a reduction of $42 on their annual water and sewerage bill after 1 July 2018, which is a combined reduction of around 3.5%.

We welcome the prices set by the Independent Competition and Regulatory Commission (ICRC) which means that almost 100% of residential customers will see a reduction in bills this year, and bills are expected to stay in line with inflation over the following four years.

The ICRC today confirmed that Icon Water’s combined bill for residential customers is lower than the national industry average for urban water providers.

The price reduction is a result of Icon Water efficiencies in operational and capital expenditure and a lower interest rate environment.

The price reduction has allowed for measured and gradual rebalancing of tariffs which will improve affordability while continuing to promote water conservation. The annual water supply charge will increase by $16 in 2018-19 which will be more than offset by the reduced volume charges.

We will continue to deliver our customers’ priority outcomes, which are quality drinking water, reliable supply, quality customer service and environmental sustainability.