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John Simpson

NI Water profits don't tell the whole story

John Simpson


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Are there troubled waters ahead for NI Water?

Are there troubled waters ahead for NI Water?

Are there troubled waters ahead for NI Water?

NI Water has published its annual report for the year ending 31 March 2020. As a statement of accounts it is reassuring.

Business levels are increasing and pre-tax profits are high.

The financial results are deceptive. The profitable outcome is heavily influenced by an Executive policy decision that payments by householders are avoided and that part of revenue accruing to NI Water is in the form of a subsidy taken out of Stormont finances and, indirectly, out of the NI Block grant.