30 Oct 2025
TasWater invests a record $371.7 million into Tasmanian economy
TasWater has invested a record $371.7 million into Tasmania’s water and sewerage assets – our biggest investment yet as we set out to secure the state’s water future.
The 2024-25 financial year was marked by accelerated infrastructure upgrades, improved customer outcomes, and strengthened environmental performance, as detailed in the newly released TasWater Annual Report.
Chief Executive Officer George Theo said the results over the year reflected a strong focus on long-term customer value for future generations.
“We’re investing where it counts – into the infrastructure, systems and services that support Tasmanians every day,” Mr Theo said.
“Our results continue to reflect our determination to invest wisely, operate responsibly, and deliver lasting value for Tasmanians.”
In 2024-25, TasWater delivered an underlying net profit of $39.0 million compared to $38.2 million in 2023-24. Total dividends paid to owners (excluding State Government) was $24 million, the same amount as in the previous year.
For the seventh consecutive year, Tasmanian drinking water achieved full microbiological compliance, reflecting our commitment to safe, clean drinking water.
We’re also losing less of that clean drinking water. Targeted programs have reduced leakage rates, saving 4.7 billion litres in water every year. Ongoing network renewals have reduced water main breaks from 42.8 per 100km of pipeline in 2023-24 to 33.5 in 2024-25; and our District Metered Areas program is using 208 meters – coupled with sensors and artificial intelligence – aro und the state to detect hidden leaks that don’t come to the surface and log them for repair.
The Water Guardians – an education program designed to improve water literacy among primary school students across Tasmania – was also launched. This is an investment in the state’s future every bit as important as pipes and pumps.
“We’re building a stronger, more resilient future – one that supports the health of our communities and the environment for generations to come,” Mr Theo said.
Despite the successes, he said there was still critical work to be done to improve services for Tasmanians.
“Our fifth Price and Service Plan Proposal is currently before the Tasmanian Economic Regulator for assessment and represents a critical juncture for water and sewerage services in the state,” he said.
Our proposal includes an 8.8 per cent annual price increase to fund critical upgrades and avoid higher costs in the future. We also propose a shift to a fairer pricing model, reducing fixed charges and making water usage a greater proportion of the bill. This pricing model will give customers greater control over their bills and means that 50 per cent will see an increase of only around 2.6 per cent in the first year of PSP5.
“Over the past decade we’ve made significant improvements to drinking water quality and reliability. We once had 28 permanent boil-water alerts or do-not-consume notices around the state, now we have none.”
“The time has come to turn our attention to our ageing and overstretched sewerage infrastructure. More than 90 per cent of our sewerage treatment plants are not only out of compliance with their environmental licence and regulator’s expectations, but also the expectations of Tasmanians. This is the reality we face and must address.”
“We need long-term solutions, not short-term fixes, and if we don’t do it now, we risk sleepwalking into a crisis that will cost Tasmanians hundreds of millions of dollars more than it should. The only responsible thing to do is invest now to avoid significant future construction costs, further environmental harm and to enable growth in the state,” Mr Theo said.
In its Price and Service Plan 5 Proposal, TasWater plans to invest $1.7 billion in community infrastructure over the four-year period – driving environmental improvements, unlocking capacity for new housing and industrial growth, and supporting up to 15,000 Tasmanian jobs.
Click here to read the 2024-25 Annual Report.