We are reviewing the new prices to apply from 1 July 2024 for two Victorian water businesses, Goulburn-Murray Water and Greater Western Water.
Water price review 2024
We are reviewing submissions from Goulburn-Murray Water and Greater Western Water on their proposed prices and key service outcomes to apply from 1 July 2024.
The two water businesses submitted their proposals on 29 September 2023.
PREMO includes incentives for each water business to put forward its best offer to customers and deliver the outcomes its customers value most.
We released our guidance to Goulburn-Murray Water and Greater Western Water in September 2022, which sets out the information each business will be required to provide us in its price submission. We also explain our approach and methodology to assessing water businesses' price submissions and making a price determination.
As this review is the second round under PREMO for Greater Western Water, we have introduced the backward-looking 'Performance' element of PREMO which holds businesses accountable for its price and service commitments from the previous price review. Greater Western Water’s price submission will need to demonstrate how it is building on the previous proposals to deliver great value to its customers.
As this is the first review under PREMO for Goulburn-Murray Water, we will not assess how its price submission addresses the 'Performance' element but we will monitor its performance for our next price review.
We will seek feedback from customers and stakeholders of the two water businesses at multiple points throughout the price review process to inform our decision-making process.
Our first consultation period on the businesses’ proposals is now open on Engage Victoria and will close on 15 December 2023.
Following consultation on our draft decision, we will issue a determination and final decision in June 2024 that sets the maximum prices that each water business may charge its customers from 1 July 2024.
How does this affect you?
Greater Western Water provides water and sewerage services to residential and business customers in metropolitan Melbourne.
Goulburn-Murray Water provides water and drainage infrastructure services to rural customers in northern Victoria.
Our determination impacts how much customers will pay for the services they receive from their water business, and the key service outcomes they can expect for the period from 1 July 2024.
What are we looking at?
We must assess the price submissions against a legal framework and issue a final determination that specifies the maximum prices and service levels for the two water businesses.
Find your water business
Guidance to water businesses
Sensitive and appropriate engagement with consumers experiencing vulnerability
We have prepared this document to support water businesses design engagement for their 2024 water price review submissions that is universal, inclusive and appropriate for all consumers, including those experiencing vulnerability.