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€2.3 billion needed for water infrastructure as closing date looms

Almost 1 million people have registered with the utility company.

A SPOKESPERSON FOR Irish Water has said the State’s water infrastructure requires investment of €2.3 billion over the next six years.

Speaking on the Today with Sean O’Rourke programme, Head of Asset Management with the company, Jerry Grant, was responding to comments made by Brendan Howlin about the need for increased investment in the water supply.

For water supply alone we believe we need €2.3 billion to invest between now and 2021. The Government have decided that for that level of investment we need to be able to borrow that money as Irish Water off balance sheet.

“For that purpose we have been set up to levy a charge on our customers and collect the majority of our revenue from our customers directly in order to meet the market corporation test and be a entity that can borrow money,” said Grant.

Rate of registration

Grant went on to say that registration with the company has now reached close to 1 million. Of these 200,000 are not Irish Water customers as they are part of a group scheme or use their own septic tank.

This is around 60% of the total number that the company hope to have registered by 2 February – the closing date for applications to ensure correct billing.

A number of customers are eligible for the €100 Water Conservation Grant that will be paid through the Department of Social Protection.

There is also an issue with situations where a single occupant who does not register as such will receive a bill for a multi-occupancy resident.

In regards to rental properties, where a tenant is not registered as an occupier, the owner of the property will be billed.

On this, Grant said:

What this is about is sending the right bill, the correct bill, to customers.

Boil-water notices

In relation to the news that a large number of people may be at risk from contaminated water it was said that Irish Water will be working to deal with this problem.

In a report by the Environmental Protection Agency it has emerged that 121 water supplies have been recommended for priority improvements.

On this, Grant said he hoped the figure would be below 100 before the end of the year.

It was also said that individuals paying commercial bills will be liable to pay Water Charges during the service’s initial introduction – although it was hoped this would be phased out over time.

Anybody with issues relating to their Irish Water bill is encouraged to call the locall number of 1890 448 448 or to go to Water.ie.

Read: Water for almost a million people is at risk of contamination

Also: Irish Water denies leaving residents “high and dry”

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76 Comments
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    Mute Caoimhghín Ó Tuama
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    May 15th 2014, 5:31 PM

    Good to see some reality in the conversation about property.

    A slight pick up in construction activity will more than meet the demand rise in Dublin. And even at that, the higher end parts of your biggest City are supposed to be out of reach for the majority – they wouldn’t be the higher end areas otherwise.

    86
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    Mute Noongirl Fiveoclockshadow
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    May 15th 2014, 5:46 PM

    Balance at last, the way the media were talking you’d swear they’re weren’t thousands of people on the verge of losing their homes every month.

    82
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    Mute Sean O'Keeffe
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    May 15th 2014, 5:58 PM

    Some conflicting reports out recently regarding the property market.
    A sustainable recovery cannot occur until after the economy has corrected, approaches full employment and take home after tax incomes are rising.
    The solvency of irish banks remains questionable.

    62
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    Mute Peter Richardson
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    May 15th 2014, 7:05 PM

    Sean, all good points. I doubt that if full provision were to be made for mortgage arrears and SME bad debt, the Irish regulated banks, with the doubtful exception of Bank of Ireland, are substantially insolvent.

    I look at the quarterly returns of the mortgage impairments to the Central Bank if Ireland and I’m convinced that impairments are under provisioned for.

    23
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    Mute Peter Richardson
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    May 15th 2014, 7:14 PM

    I should correct that. I meant to doubt the solvency of the Irish banks, or more pointedly, to say that I think that they are substantially insolvent. Of course, the Irish Banks will contend that the value of security properties is increasing.,

    The only limited blue sky is that for buy to let’s, increased rental values will give a better prospect meeting mortgage repayments. But that will not make a significant favourable impact on the overall mortgage arrears situation.

    13
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    Mute Brendan Boyd
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    May 15th 2014, 5:43 PM

    Why pay when AIB are halving mortgages for the financially feckless. The penny has dropped with the rest.

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    Mute Thomas Dooly
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    May 15th 2014, 5:49 PM

    So now they’re becoming financially reckless too

    26
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    Mute Peter Richardson
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    May 15th 2014, 9:08 PM

    Brendan, the tired and silly old nonsense about strategic default. Idiocy thrives.

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    Mute Paul Roche
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    May 15th 2014, 5:09 PM

    Honohan asked the banks to produce statistics to show they were “engaging” with those in arrears, so they did.
    We now see they didn’t do anything to improve the default risk. Why pay a mortgage if you’re under water in negative equity? If price rises are temporary we should see another bubble burst in the Dublin market, and with rents at record levels, we should see the carpet naggers have a field day.

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    Mute Paul Roche
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    May 15th 2014, 5:09 PM

    * carpet baggers (dammit)

    21
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    Mute Rick Grimes
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    May 15th 2014, 5:19 PM

    You nearly became a ni**er guy

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    Mute Paul Roche
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    May 15th 2014, 5:30 PM

    Almost Rick,
    I was attempting and corrected my use of a very different phrase which also has root in the Deep South.

    16
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    Mute George Grey
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    May 15th 2014, 5:53 PM

    Euro growth slowing……house repossessions growing……mortgage arrears stagnating……jobless figures not budging…..disposable incomes slaughtered…….Water charges spouting. …..politicians spouting….rubbish! All rubbish. We are in a hole and digging.

    104
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    Mute Peter Richardson
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    May 15th 2014, 7:06 PM

    George, that’s cheating! You have introduced reality.

    25
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    Mute GATHERINGYOURMONEY14
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    May 16th 2014, 9:23 PM

    “Perfect timing for the government to introduce a scheme to fund a new bubblebust”

    2
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    Mute Rick Grimes
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    May 15th 2014, 5:19 PM

    Boo boo. Enjoy being homeless

    11
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    Mute Thomas Dooly
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    May 15th 2014, 5:33 PM

    P. Grimes

    Yawn !

    32
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    Mute Rick Grimes
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    May 15th 2014, 5:58 PM

    P. ?

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    Mute Norman Hunter
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    May 15th 2014, 6:17 PM

    I think Rick he meant you spelled your name wrong is there not a P before the R?

    42
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    Mute Thomas Dooly
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    May 15th 2014, 6:33 PM

    Oh ,silly me !

    16
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    Mute Peter Richardson
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    May 15th 2014, 9:11 PM

    Grimy Dick is as juvenile as his remark.

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    Mute DaveMac
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    May 15th 2014, 9:50 PM

    Too right Rick, no one should give a c€€p about these dopes haha

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    Mute Thomas Dooly
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    May 16th 2014, 9:20 AM

    How’s the pretend house hunting going ,Dave(s) :)

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    Mute DaveMac
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    May 16th 2014, 2:56 PM

    Going grand, closing in on some nice places in Drumcondra, waiting for the dust to settle on this rise we have been seeing and with prices down all year so far it seems that’s happening

    5
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    Mute Thomas Dooly
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    May 16th 2014, 7:30 PM

    Hahahaha! I take it that you’ll be watching that soft porn documentary ( Desperate House -hunters ) on RTE ? ;)

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    Mute DaveMac
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    May 15th 2014, 9:47 PM

    More and more of these poor defaulters having to sell up makes me happy.. God it feels great not to have debt hanging over me :-)

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    Mute Thomas Dooly
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    May 16th 2014, 9:24 AM

    All buy to lets ,Dave …Was listening to that lovely man ,Burgess ,this morning … Talking about Banks doing deals with 90% of people in arrears :) Great cheap houses in Athlone / Laois /Cavan / Carlow / etc Maybe Navan will be your final destination ..Happy pretend house hunting :)

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    Mute DaveMac
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    May 16th 2014, 2:58 PM

    I have viewed a number of repossessed and bank owned houses in Dublin.. They exist, but not cheap as they are being released slowly but they do exist

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    Mute Thomas Dooly
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    May 16th 2014, 7:33 PM

    You’re a one off ,Dave :)

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    Mute Shakka1244
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    May 15th 2014, 6:40 PM

    Don’t mention the war !

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    Mute James Kiernan
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    May 15th 2014, 9:42 PM

    During the war….

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