The Utility Regulator of Northern Ireland is proposing to allow NI Water to spend £690.9 million over 2013-15 – 9 per cent less than the water company put forward in its business plan.
Under its draft determination, the regulator said charges would fall by an average of 7 per cent below inflation over the two years for non-domestic customers. It challenged NI Water to reduce the 38 per cent operational efficiency gap with water companies in England and Wales.
Shane Lynch, chief executive of the Utility Regulator, said the proposals would take NI Water closer to being the most improved water and sewerage company in the UK. “It is encouraging that NI Water has exceeded the targets we set during the previous price control,” he said.
Ronan Larkin, director of finance and regulation at NI Water, said the firm would be “examining the detail carefully over the coming weeks”.
This article first appeared in Utility Week’s print edition of 21st September 2012.
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