We are preparing for our review of Goulburn-Murray Water's prices from 1 July 2024.
Goulburn-Murray Water price review 2024
Draft guidance21 June 2022
Final guidanceSeptember 2022
Price submission due29 September 2023
Draft decisionMarch 2024
Final decision and price determinationMay 2024
We are preparing for Goulburn-Murray Water's new water prices to apply from 1 July 2024
First, we need provide Goulburn-Murray Water with guidance on what it should include in its price submission. Goulburn-Murray Water must engage with its customers to inform 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. 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.
Draft guidance paper open for consultation
Our guidance paper sets out the information Goulburn-Murray Water will be required to provide us in its September 2023 price submission. We also explain our approach and methodology to assessing water businesses' price submissions and making a price determination.
Stakeholders are invited to provide feedback on this draft paper via email to email@example.com. Consultation closes on 20 July 2022.
We will review submissions and issue a final guidance paper before the end of September 2022.
We have released our draft guidance paper for consultation.