Infrastructure Minister Nichola Mallon has confirmed that water and sewerage bills for business and non-domestic customers will be held back until July so they do not have to face additional burden during the coronavirus pandemic.
A planned annual increase in the non-domestic water and sewerage tariff will also be deferred and reviewed in the autumn.
The North Belfast MLA explained that the announcement is a further demonstration of her commitment to do what she can to support the business community.
"To make these changes possible and ensure NI Water's cashflow, my department will be reprofiling its funding arrangements with the company for the coming months," said the SDLP politician.
"I am pleased to have had the cooperation and support of other key stakeholders including the Utility Regulator and Consumer Council NI and I am hopeful that these measures will provide some relief to our business community."
NI Water's director of finance and regulation Ronan Larkin added: "With many businesses now closed, or having significantly curtailed their activities, this will alleviate the concerns many may have had in relation to accessing and paying their bill."