Rand Water sold an average of 4,761 megaliters a day in FY 2025, slightly below the 4,765 ML/d of FY 2024. It was the first year-on-year decline since FY 2020, when sales fell 3.4% to 4,535 ML/d. In each of the four years to FY 2024, volumes had risen.
Growth meets the cap
Rand Water's abstraction allocation from the Integrated Vaal River System is 1,803 million cubic meters a year, a daily average of about 4,940 ML/d. Peak day demand reached 5,161 ML/d in FY 2025. A temporary increase to 2,003 million cubic meters a year applied only from February to June 2026. In October 2026, Rand Water warned Johannesburg that it was drawing 1,801 ML/d against a licensed allocation of 1,356 ML/d.
Revenue still rose
Flat volumes did not stop revenue growth. Revenue reached R22.9 billion in FY 2025, up 5.07%, after a 4.9% bulk tariff increase for 2024/25. The increase for 2025/26 was 15.2%, and Rand Water proposed 10% for 2026/27. Net income was R4.6 billion.
Capacity ahead of water
Station 5A at Zuikerbosch, inaugurated in August 2025, adds 600 ML/d of treatment capacity, about 13% of FY 2025 average supply. Extra raw water depends on Lesotho Highlands Phase II, where Polihali Dam is expected to begin impounding in July 2027, with completion targeted for October 2028.
Rand Water's assets, finances, R41.1 billion capital plan, governance and the developments scheduled to 2030 are profiled in the report. The full report, Utility Intelligence Profile: Rand Water, is available for USD 99. For a free overview, read the Rand Water Utility Snapshot.