Irish Water spending plans of €4.5bn get watchdog approval
Utility had sought to spend €4.8bn but CRU said less was sufficient
Irish Water will spend €4.5 billion between now and 2024.
Irish Water has been given approval to make capital expenditure of €4.5 billion over the coming four years. The Commission for Regulation of Utilities (CRU), which is required to sign off on expenditure at utility companies, said Irish Water will be allowed to spend €4.5 billion, €784 million more than had originally been sought, and €308 million less than ultimately had been requested by the utility.
Since the CRU started regulating Irish Water in 2014, costs have been reviewed and spending permitted through short-term controls. In 2018, the utility submitted plans covering capital costs for the period 2020 to 2024.
Irish Water had requested that it be allowed to make capital expenditure of €4.8 billion. But the CRU found that the utility could deliver its plans more efficiently, and awarded €308 million less than had been requested.
Among the outcomes Irish Water intends to achieve over the coming period is the provision of a reliable service to remove and treat wastewater and the security of water supply.
“While this is still €308 million less than that requested by Irish Water for the five year period, the CRU believes, following its review the total amount allowed, €4.5 billion is appropriate and ensures that Irish Water is challenged to deliver for the customer at the most efficient cost possible,” said CRU chairwoman Aoife McEvilly.