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NI Water has strong year with revenues up to £380m

By Staff Reporter

Published 13/09/2016

NI Water chief executive Sara Venning
NI Water chief executive Sara Venning

Northern Ireland Water has enjoyed a strong year after increasing its overall revenues to £380m.

The State-owned water supplier has also invested around £140m in capital schemes across the network, according to its annual report and accounts for 2015/16.

It also says revenue increased from £377.2m to £380m. And during the year, it generated an "operating surplus" of £101.5m and returned £24.7m back to the public purse.

NI Water says it has continued investment in its water and wastewater infrastructure, with around £1.9bn being invested since 2007.

Chief executive Sara Venning said: "Recognising the important role NI Water plays in supporting health, safeguarding the environment and promoting a strong regional economy, I'm delighted to bring forward this report setting out another strong year of business performance.

"We have just completed the first year of our six-year business plan, a strong ambitious plan designed to bring services in Northern Ireland in line with best in class across the industry.

"While the necessary investment has been underfunded in the first two years of our current six-year price control, there is an opportunity to deliver planned service improvements, outputs and efficiencies if the underfunding is addressed during the next four years to 2021."

In its latest accounts, it says it has delivered "near record levels of water and wastewater compliance supporting some of the best bathing waters in Europe".

On the cost of its bills, NI Water says customers are paying 12% less, on average, for their water and sewerage services than they did four years ago, taking into account inflation.

NI Water chair Dr Len O'Hagan, speaking in the latest accounts, said: "Customers in Northern Ireland today and in the future deserve to have access to the same high levels of service, water quality and environmental standards as customers in England, Wales and Scotland.

"We invest in new treatment works, and deliver infrastructure to maintain and expand capacity, and in so doing enable development in many diverse sectors of our economy from agri-food production, to new house construction, to tourism development," he added.

"During the year, we invested £140m in major capital schemes, including the delivery of 117km of water mains and substantially completed the Carland and Cookstown strategic water trunk main.

"Our investment programme has enabled us to deliver record-breaking levels of services to our customers while at the same time running our business for less."

Belfast Telegraph

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