23 May 2008
The chief executive of NI Water has resigned following revelations that the government-owned company has a £20m annual revenue shortfall. Katharine Bryan will leave at the end of May and company chair Chris Mellor will take on the post until a replacement is recruited.
NI Water has admitted that it overestimated the revenue it would receive from commercial customers, creating a funding gap of £13m this year and £20m next year. The Consumer Council for Northern Ireland predicts that this will lead to domestic customers paying an extra £30 a year.
The Northern Ireland Authority for Utility Regulation is investigating the failures, as is the Assembly's regional development committee.
Fred Cobain, chair of the regional development committee, told Public Finance he was waiting for an explanation from the Department for Regional Development. 'I am sure that large sums of public money will be involved and we want to make sure that Katharine Bryan is not carrying the can for other people. The department is not free of blame on this issue.'
PFmay2008
