Lake stclair
Summary
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We have released a Draft Handbook

IPART regulates the price and performance of several NSW water businesses. We recently reviewed how we do this and developed a new framework. It focuses on customers, costs and credibility – which we refer to as the 3Cs framework.

We are now consulting with stakeholders to develop a Handbook for the 3Cs framework. The Handbook serves 2 main purposes:

  • It guides water businesses in preparing their proposals and managing ongoing performance under our 3Cs framework, by setting out our expectations of businesses and outlining our regulatory processes.
  • It explains the key elements of our approach to all stakeholders.

We are seeking submissions from water businesses and other interested stakeholders on the Draft Handbook. Submissions are due by 17 February 2023.

Context

We reviewed how we set prices for the monopoly businesses we regulate - Sydney Water, Hunter Water, Central Coast Council, Essential Water, WaterNSW, the Sydney Desalination Plant (SDP) and the Water Administration Ministerial Corporation (WAMC).

We released a final report in November 2022. It set out the 3Cs framework, which will enable these water businesses to deliver better value for money to their customers and address key challenges like climate change and a growing population.

Key features of the 3Cs framework include:

  • Broadening the focus of IPART pricing reviews so that water businesses promote customer value, cost efficiency and credibility over the short- and long-term.
  • Tailoring IPART’s assessments based on how well each business promotes customer expectations, providing more flexibility for the business to deliver for customers.
  • Rewarding businesses for delivering customer value, while keeping them accountable for meeting their commitments to customers.
Key contact
Eva McBride
02 9113 7715