NI Water has agreed to the Utility Regulator’s PC13 price control determination. PC13 is the Regulator’s assessment of NI Water’s revenue requirements over the two-year period from 1 April 2013.
This price control allows for an investment of £324million in water and wastewater assets. NI Water is required to reduce its average prices by up to 12% by the end of the two-year period, and at the same time, improve services.
Utility Regulator Chief Executive, Shane Lynch, said:
“This is positive and welcome news. This price control will continue to challenge NI Water to deliver better value for its consumers, by further reducing its costs and improving its services.
“Northern Ireland’s water industry can be as efficient, and provide as good a service, as anywhere in the world. NI Water made strides towards this in delivering its first price control (PC10). PC13 will continue NI Water’s journey towards this goal.”