Sydney Water to review IPART Draft Determination
Sydney Water will review IPART’s Draft Determination on pricing for the next four years, which was released today.
Managing Director Kevin Young said the Draft Determination proposed lower prices for customers and further reductions in expenditure.
“Sydney Water is supportive of any proposal to reduce financial pressure on customers, however to promote their long term interests, we need to balance any bill reduction with the right amount of spending,” Mr Young said.
“We need to ensure that we continue to provide quality services to our customers into the future.
“We advocated for lower bills for customers in our proposal to IPART, and our proposal balanced these customers’ needs and long term service requirements.
“We will now read the document with interest, examine the details and provide our response to IPART by 18 April.”
Mr Young said this was a draft determination based on a robust and transparent process that gave all stakeholders and the community a chance to have a say.
He said the Independent Pricing and Regulatory Tribunal (IPART) sets prices – generally over a four year period or ‘price path’.
Sydney Water proposes prices to IPART before the end of each price path. IPART considers those submissions as well as those from other organisations.