Millions of Sydneysiders are set to see their water bills skyrocket, after the Independent Pricing and Regulatory Tribunal gave price hikes of up to 13 per cent within the next year the green flag.

After months of deliberation and consultation, the Independent Pricing and Regulatory Tribunal on Tuesday set the maximum price that Sydney Water and Water NSW could charge residents in the greater Sydney region from next month.

Starting as soon as October 1, the average Sydney household will see their annual water bills surge by as much 13.8 per cent, accounting for inflation.

This will see prices rise from $1220 per year to $1388 for families of four who use approximately 200KL of water a year, an increase of $168.

By 2029/30 a typical Sydney family will be paying $1695 for their annual wa

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