The devolved administration is consulting on how to reduce the water usage for both domestic and commercial customers, including setting company targets for per capita consumption.
The consultation, which closes on 4 July 2014, stated the Welsh Government will “assess the feasibility” of the initiative and whether it would encourage efficiency.
Another proposal in the strategy is the metering of all water supplies in Wales “in a phased and proportionate programme”.
It is hoped this would not only “encourage consumers to give greater consideration of the value of water” but also make billing “more transparent and fair”.
The Welsh Government’s natural resources minister, Alun Davies, said: “I want our people to receive first class, value for money, water services with water used efficiently and respectfully by all.”
He added: “We face significant challenges in terms of how we manage our natural resources.
“We need to act now to ensure we use these resources in a sustainable manner whilst at the same time ensuring a just return on our natural capital.”