Dáil Éireann Debate, Tuesday - 10 February 2015
596. Deputy Brian Stanley asked the Minister for the Environment, Community and Local Government the amount Irish Water will be required to borrow in order to meet all of its expected costs in 2015 and 2016. [6015/15]
Amharc ar fhreagra601. Deputy Brian Stanley asked the Minister for the Environment, Community and Local Government the amount Irish Water plan to borrow to fund capital investment in 2015. [6045/15]
Amharc ar fhreagra602. Deputy Brian Stanley asked the Minister for the Environment, Community and Local Government the amount Irish Water will be allowed to borrow on the markets, based on expected revenue streams for both 2015 and 2016. [6046/15]
Amharc ar fhreagraI propose to take Questions Nos. 596, 601 and 602 together.
Irish Water currently expects to increase its borrowings by some €900m in 2015, of which about €750m relates to the funding of capital expenditure, and a further €325m in 2016 to fund its capital expenditure programme in that year. Additional working capital loans of up to €96m and €58m are expected to be provided by Government in 2015 and 2016 respectively.
Under Section 35 (1) (b) of the Water Services (No 2) Act 2013 Irish Water’s current borrowing limit is €2bn. Irish Water’s current forecast of total borrowing at end 2016 of €1.7bn is within this limit. Under Section 35 (1) (a) any borrowing by Irish Water needs to be approved by the Minister for the Environment Community and Local Government, the Minister for Communications, Energy and Natural Resources, the Minister for Finance and the Minister for Public Expenditure and Reform.
