Customers are being warned to expect higher bills as Jersey's water company prepares to embark on a big investment programme.
David Norman, chairman of the Jersey New Waterworks Company, said bills are to rise by 4.5% this year.
The company says it needs cash to pay for £50m of new projects, to keep up its services and to extend its supply network.
It predicts a further increase in net debt of about £2m in the coming year.
Jersey's Val de la Mare reservoir is to be extended to cope with the island's need for more water storage.
A contingency fund is being set aside for the project, which the firm said could be 20 years away.
The firm is setting aside £1m a year from 2007.
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