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< Government proposes to increase size of competitive water market from April 2010 | Offshore wind could meet 10 per cent of demand >
Northern Ireland regulator proposes to cut NI Water's costs by 11 per cent
Northern Ireland Authority for Utility Regulation (NIAUR) has proposed to cut Northern Ireland Water's costs by up to 11 per cent whilst allowing £500 million of investment.
The regulator made the announcement in its draft determination on NI Water's price control (often referred to as PC10) for 2010 to 2013. NI Water's business plan said it needed £1,190 million over the three years. NIAUR said that through efficiency and other savings this could be reduced by 11 per cent, or £136 million.
NIAUR chief executive, Iain Osborne said: "The level of efficiency savings are challenging but deliverable and are a result of a detailed analysis of NI Water's costs and performance. This is the most robust review ever taken of NI Water's costs - taking into account both appropriate benchmarks and other relevant factors, including making allowance for extra costs that are specific to Northern Ireland."
Osborne continued: "This is new ground for water and sewerage services in Northern Ireland - the first regulated price control."
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