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In Northern Ireland, the Utility Regulator - the independent
body which regulates water and sewerage services - has published
its final determination on NI Water’s Price Control 2010-2013
(PC10), which identifies £91 million of revenue savings.
The final determination also supports an investment programme
of £564 million.
The determination sets out the revenue that the company is
allowed in order to deliver water and sewerage services to
consumers for the 3-year period. It also identifies what is
to be achieved through the investment programme, the expected
improvements in service and the level of efficiency the company
is expected to deliver.
In its determination, the Utility Regulator (NIAUR)
targets revenue savings of £91 million - a reduction of 8%
on NI Water’s original revenue proposal. Subsidy required
from government can now be £68 million less than originally
anticipated by NI
Water. In addition, customer bills can now be £23
million lower than projected by the company.
The determination also allows for a capital investment programme
worth £564 million over three years. This is equivalent to
an annual investment of £279 per property in Northern Ireland,
which is 47% higher than the English and Welsh average.
Iain Osborne, Utility Regulator Chief Executive, said - “The
publication of our final determination is a key milestone
in the delivery of safe, reliable and high-quality water and
sewerage services in Northern Ireland. As an independent body
acting on behalf of consumers, we have rigorously scrutinised
and challenged NI Water’s plans to ensure we can guarantee
consumers the best value for money.
“We have set clear targets for NI Water and we will closely
monitor its progress. Other water companies have been subject
to a similar regulatory process and they have delivered. The
targets we have set today are challenging - but achievable
- and we look forward to working with the company to ensure
they are met.”
Download - Final Determination Summary Report - Click
Here
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