MELBOURNE householders' water bills will rise between $167 and $222 in the coming financial year.
The price rises apply to customers of Melbourne Water, City West Water, South East Water and Yarra Valley Water over the next five years.
The water companies will rake in $12 billion between 2013 and 2018.
On average, water bills will increase by 22.4 per cent across Melbourne.
The increase is less than the original proposals from water retailers of increases between $269 to $355.
Essential Services Commission chair Ron Ben-David says the commission's decision will take effect from Monday next week.
"After the first year increase, price rises will plateau and will only move in line with inflation," he said.
The price rises apply to customers of Melbourne Water, City West Water, South East Water and Yarra Valley Water over the next five years.
The water companies will rake in $12 billion between 2013 and 2018.
On average, water bills will increase by 22.4 per cent across Melbourne.
Dr Ben-David said the majority of the price increase - between two-thirds and three-quarters - was due to the cost of Victoria's desalination plant.
"Now that the desalination plant is operating we have to account its true full cost to the state and to Melbourne Water," he said.
City West Water, South East Water and Yarra Valley Water customers will face a significant price rise in 2013/14, then increases in line with inflation.
Western Water customers' price increases will happen more gradually over five years because the company is less reliant on the desalination plant, Dr Ben-David said.
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