South West Water is freezing its charges until April 2015, and says it'll also keep average bill rises below inflation until 2020.
Customers could otherwise have seen the average household bill go up by 22 pounds next year.
The company says it can still deliver improvements to infrastructure without putting up prices.
How Torbay Hospital bosses are tackling 'risks'
Poor state of buildings impacting staff and patients
RD&E and North Devon hospital waiting times slashed
It's still one of lengthiest in the country
Bus service changes leave villagers in North Devon stranded
Petition started to reinstate former direct route from Barnstaple to Exeter
Demand for action over Teign sewage spills
'This represents a risk to health for residents and visitors'
Cyclist critically injured in Sidmouth
Man, 20s, airlifted to hospital
Council owed £4 million by its own housing company
But it won't sell Mary Archers for student flats
