Ms Maria Graham:

The Chairman asked what we are doing. The CER will do a full review, but some costs have yet to be incurred. Advice came back to the Minister that a short review could be done in that time but there needed to be a more in-depth consideration. We have put in an arrangement which involves Irish Water expanding the data on the expenditure versus budget with regard to future commitments. With that we can assess whether it will meet the tests that the regulator will want to see in terms of reasonableness of cost and value for money to the customer. Essentially, a panel will review the cost commitments for the period immediately ahead in advance of the consultation that the regulator has described, and that panel includes the CER in an advisory role and the Department of Public Expenditure and Reform. It is chaired by ourselves and also includes NewERA.