We are preparing for our review of Goulburn-Murray Water's prices to apply from 1 July 2024.
Goulburn-Murray Water price review 2024
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Draft guidance21 June 2022
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Final guidance13 September 2022
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Price submission due29 September 2023
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Draft decisionMarch 2024
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Final decision and price determinationMay 2024
Overview
We are preparing for Goulburn-Murray Water's new water prices to apply from 1 July 2024
We have consulted on and provided Goulburn-Murray Water with guidance on what it should include in its price submission.
In late September 2023, Goulburn-Murray Water must provide us with a price submission outlining the prices it proposes to apply for a period beginning 1 July 2024. Goulburn-Murray Water must engage with its customers to inform its price submission. The price submission will also set out the service levels and value customers will receive.
Goulburn-Murray Water's prices will be regulated under the Victorian framework
In April 2022, the Australian Competition and Consumer Commission released its decision that Goulburn-Murray Water will cease to be a Part 6 operator under rule 23 of the Commonwealth Water Charge Rules 2010 after 30 June 2024.
Accordingly, from 1 July 2024 we will regulate prices for Goulburn-Murray Water’s infrastructure-related services under the Victorian Water Industry Regulatory Order. However, our 2024 water price review will look very similar to our previous price reviews of Goulburn-Murray Water.
The biggest change is that we will assess Goulburn-Murray Water's price submission under our PREMO water pricing framework. PREMO includes incentives for Goulburn-Murray Water to put forward its best offer to customers and deliver the outcomes they value most.
We will assess how Goulburn-Murray Water's price submission addresses Risk, Engagement, Management and Outcomes. We will not assess the Performance element of PREMO this first time around, but we will monitor Goulburn-Murray Water's performance for our next price review.
Guidance to Goulburn-Murray Water
We released our guidance to Goulburn-Murray Water in September 2022, setting out the information Goulburn-Murray Water will be required to provide us in its September 2023 price submission.
We amended our draft guidance to reflect the feedback we received during our consultation. This included minor changes suggested by Goulburn-Murray Water and a requirement for Goulburn-Murray Water to provide additional information to assist us in the assessment of diversion tariffs levied on its domestic and stock water users.
The guidance paper also explains our approach and methodology to assessing water businesses' price submissions and making a price determination.
Consultation on our draft guidance
We ran a four-week consultation from June to 20 July 2022 and sought submissions from stakeholders.
We met with representatives of Goulburn-Murray Water's customer committees to provide information about the PREMO framework and draft guidance.
We received five submissions, from Goulburn-Murray Water, Lower Murray Water and local residents and business owners.
The main themes of the submissions
The main themes covered in the submissions we received were:
- The costs of service to unregulated domestic and stock water users
- Whether unregulated domestic and stock water users should be a different category to the divertor category
- Issues relating to share trading
- Management of water supplies
- The consultation of Goulburn-Murray Water with its customers.
Goulburn-Murray Water also provided a response to the guidance paper.
View all submissions in the 'resources' tab of this page.
Learn more about water price regulation
Read more about how we regulate the water sector.
Resources
Guidance
We have released our guidance to Goulburn-Murray Water.
16 September 2021
We have prepared this document to support water businesses design engagement for their price submissions that is universal, inclusive and appropriate for all consumers, including those experiencing vulnerability.
(pdf, 290.82 KB)
Our 'Getting to fair' strategy gives us a roadmap to address consumers' experience of vulnerability and break down the barriers they can face.
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