10 May 2022
Quality service to be continued for Tasmanians through new Price and Service Plan
TasWater’s new Price and Service Plan 4 (PSP4) will provide our customers with price certainty over the next four years while continuing to receive safe, clean and reliable drinking water in addition to essential sewage services that enhance the environment as a result of our activities.
PSP4 includes a 3.5 per cent price increase for the financial year beginning 1 July 2022.
Matthew Pigden, Chief Financial Officer, said the new plan will allow TasWater to deliver quality services and improved standards, along with upgrading and maintaining essential infrastructure.
“TasWater, like many other water utilities across the country, is required to submit its proposed prices and services to an independent economic regulator for approval,” he said.
TasWater welcomes the independent Tasmanian Economic Regulator’s (TER) approval of a maximum price increase of 3.71 per cent per year for the next four years. However, consistent with the commitments TasWater has made to its customers, stakeholders and Owner Representatives, TasWater will only increase its prices by 3.5 per cent per annum over this period.
As noted by the TER, this equates to an average household increase of $43 per year, based off the average annual residential property water use amount of 179 kilolitres, or 83 cents per week for the 2022-2023 financial year.
“We continue to work closely with Councils, our Owner Representatives, and the State Government to ensure prices are kept as affordable as possible for our customers,” Mr Pigden said.
Through the development of the new PSP, TasWater has worked hard to balance short term operating needs, with long term infrastructure investment and the need to meet customers’ expectations at an affordable price.
“A conservative price increase will allow TasWater to continue to improve and invest in water and sewerage infrastructure, including the continuation of our $1.1 billion capital delivery program over the next four years,” Mr Pigden said.
“This program of works undertaken by TasWater’s Capital Delivery Office (CDO) has boosted local employment with about 93 per cent of all contracts to upgrade or build new infrastructure going to Tasmanian businesses. This means hundreds of jobs for Tasmanians and better outcomes for our customers and the environment.
“These projects, along with the significant capital works program already delivered, will ensure we can provide reliable services for our customers now and into the future,” Mr Pigden said.
As always, TasWater is here to help if any customers are experiencing financial difficulties.
“We have a number of programs to support our customers who may be experiencing financial challenges, including a dedicated Customer Support Program team who work with individual customers on a solution that meets their needs, whether it is in the short or long-term,”
For more information on our Price and Service Plan visit: https://www.taswater.com.au/accounts-billing/fees-charges/price-service-plan/psp3-extension-questions-and-answers
For more information on our Customer Support Program visit: https://www.taswater.com.au/Your-Account/Customer-Support-Program