Mr Blair said the proposal would deliver some much-needed relief to families right across Sydney.
“Sydney Water’s plan to reduce water bills is great news for households,” Mr Blair said.
“By making government agencies, like Sydney Water, more efficient it means those savings can be passed on to customers while still maintaining high quality service delivery.
“Anything that eases the cost of living is a big tick in my book.”
While Sydney Water is reducing customers’ bills – a first for any of the state’s utilities – the NSW Government will invest more than $705 million over the next financial year to maintain, renew and upgrade critical infrastructure across Sydney’s water and wastewater network.
The NSW Government is budgeting investment of $3.5 billion over the five years, from 2015-16 to 2019-20.
Since the NSW Liberals & Nationals Government was elected in 2011, more than $2 billion has been invested in Sydney Water’s infrastructure network.
The planned investment over the coming years will allow Sydney Water to provide services to new customers in growth areas.
It will also ensure Sydney Water continues to provide the highest quality drinking water and an efficient wastewater service, while continuing to improve customer satisfaction.
Sydney Water’s proposal for prices to apply from 2016-2020 will be reviewed by IPART.
IPART will also place the proposal on public exhibition, with members of the public encouraged to provide feedback.