According to various reports the Irish public could face a 50% increase in their Water charges. The news comes after reports that the coalition will continue with current plans to keep the utility’s loans off the national balance sheet.
Reports also suggest the current €100 water conservation grant and the pricing cap will be ditched in order for the company to pass Eurostat’s strict market corporation test. Such a move will apparently result in 70% of Irish Water customers, receiving unfair higher charges. The news comes after European agency Eurostat declared that Irish Water did not pass a standard stress test because more than 50% of revenues came from Government. The agency also found that the current ‘water conservation grant’ arrangement should be seen as a payment to Irish Water, as it was “clearly” designed to offset bills.
The news will most likely not be welcomed by the Irish public as the government already agreed to place a minimum payment cap on the charges until 2019 at the earliest.