Anthony Roberts MP, Member for Lane Cove, has called on the Keneally Labor Government to come clean about where they have spent the hundreds of millions of dollars in dividends they have ripped off Sydney Water in the past decade.

This follows the release of the Auditor General's Report on the Sydney Water Corporation today, which found that Sydney Water had made a record profit of $446 million.

"State Labor has reaped millions dividends through Sydney Water at the same time customers are being ripped off through water prices," Mr Roberts said.

"While Sydney Water's customers struggle with increasing water costs, the Keneally Labor Government is doing very nicely out of the soaring profits made by the utility.

"The Keneally Labor Government has ripped almost $1.4 billion off the Sydney Water Corporation in the past decade – $205 million of this last year alone.

"Yet the poor customer has to face increasing water bills to cover the costs of repairing Sydney’s ageing water mains infrastructure, while just about every day we hear of another burst water main, together with the costs of the desalination plant, and also Sydney Water’s ever increasing electricity consumption.

"Meanwhile Sydney Water customers continue to be hit by skyrocketing rates, which will have gone up another 32.6 per cent by the end of 2012.

"Just yesterday it was reported that the number of Sydney Water customers seeking financial assistance for their bills had increased by 20 per cent in the past two years.

"Even though Sydney Residents are doing the right thing and using less water, the Keneally Labor Government is rewarding them by charging more for water and stripping hundreds of millions of dollars from Sydney Water.

"Unlike Labor, the NSW Liberals & Nationals will restore quality services through Government through greater accountability and investment in infrastructure," Mr Roberts said.