The Victorian Government has welcomed the Essential Services Commission (ESC) price decision for Goulburn-Murray Water (GMW) customers announced today.
The decision means most GMW customers – predominantly irrigators – will see an average 10 per cent drop in prices from 1 July 2020 and a continued 1 percent reduction for each of the following three financial years.
This price decrease will offer relief to the GMW customers who have faced significant challenges in recent years with dry conditions and drought putting upward pressure on water prices.
The pricing structure, approved and announced by the ESC today, reflects a $64 million reduction in costs by GMW over the next four years.
Minister for Water Lisa Neville announced a Strategic Advisory Panel in 2017 to start a transformation process for GMW to support it in meeting the challenges of a changing customer base, ageing assets and reduced water availability due to climate change and the Murray Darling Basin Plan.
The transformation has focussed on delivering affordable and sustainable services for GMW customers to underpin the future of the region.
The ESC noted the extensive consultation work undertaken by GMW and its customers during the price decision process.
Delivery of the $2 billion Connections Project modernising infrastructure in the GMID remains on
track – underpinning agriculture in the region for generations to come.
Connections is also crucial to Victoria meeting its water recovery obligations under the Basin Plan without any further buy backs.
“This pricing decision is good news for Goulburn-Murray Water customers including irrigators, regional communities and surrounding business which rely on the agriculture industry.”
Minister for Water Lisa Neville