Greater Western Water (GWW) is a Victorian Government water corporation servicing over 650,000 residential and commercial customers across Melbourne's CBD, western and north-western suburbs and the Macedon Ranges, Moorabool and Wyndham areas.
GWW has suffered an estimated $150 million in losses following the botched launch of a new billing system in May 2024, which resulted in tens of thousands of customers being incorrectly charged, whilst others had their personal details exposed.
Released on Christmas Eve, the Greater Western Water Annual Report 2024-25 has confirmed:
- Treasurer Jaclyn Symes has provided GWW with a letter of financial support to enable the corporation to remain operating as a going concern.
- GWW did not have enough cash to pay their interest bills across 2024-25 - with an interest coverage ratio of -0.3.
- GWW recorded a negative cash flow from operating activities of $191.7 million across 2024-25.
- The value of GWW's current liabilities was greater than net current assets across 2024-25.
- The number of customers on flexible payment plans grew to 28,981 - an increase of 23 per cent on the year prior.
- The rate of payment issue complaints grew by more than 200 per cent to 0.68 complaints per 100 customers across 2024-25.
- The more than $36 million spent by GWW on 'Information Technology' predominantly relates to the "stabilisation of the new Billing and Collections system".
Leader of the Opposition and Shadow Treasurer, Jess Wilson, said: "Labor's botched billing system upgrade has driven one of Victoria's largest water corporations to the financial brink.
"Under Labor, Greater Western Water does not have enough cash to pay the interest bill on their debt and would likely be insolvent without emergency financial support from Treasurer, Jaclyn Symes.
"Labor's letter of financial support is a de facto bailout and releasing this report on Christmas Eve is a shameless attempt to avoid accountability and transparency."
Shadow Minister for Water, Tim McCurdy, said: "Labor simply cannot get the basics right, such as running essential services like water, and it's Victorians who are paying the price.
"Greater Western Water customers have paid a heavy price for the mismanaged billing system that has caused a financial disaster under Labor.
"Labor cannot manage money, cannot manage projects and Victorians are paying the price."
