Minister for Housing, Planning and Local Government, Eoghan Murphy approved the plan.
He said: "I have approved the Irish Water Strategic Funding Plan 2019-2024, without modification, which sets out Irish Water's multi-annual strategic funding requirement of €11bn to 2024, comprised of a €6.1bn investment in infrastructure and assets and €4.9bn in operating costs. This is a significant multi-billion euro investment programme which will ensure the continued operation, repair and upgrading of our country's water and wastewater infrastructure to support social and economic development across the State and continued care of our water environment."
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The Plan is in line with the new funding model for Irish Water arising from the report of the Joint Oireachtas Committee on the Future Funding of Irish Water. The funding requirement will be met through a combination of non-domestic revenue, excess usage charges, government subvention, non-domestic borrowings and capital contributions.
The Plan will now be subject to economic regulatory review by the Commission for Regulation of Utilities (CRU) as part of its third regulatory control period 2020-2024.
(CM)
