Mr. John Barry:

When we put together the budget for delivering Irish Water, it was €150 million plus contingency of €30 million. At the time, we took the view it was an initial budget but it is still proving to be a valid budget. We provided for a contingency of 20% within the budget. With the involvement of Bord Gáis, the risks and the timeframe in which we were set to do it, we reckoned 20% was sensible.

When we looked at it again, we decided that as it was coming up from a greenfield site, one should add at a minimum 15% to that. That equates to approximately €29 million of the €70 million or €80 million. The other lump of money comes from savings we got on software licences. By using our existing systems, we were able to get good value for money in negotiating software licences with the various players in the market.

The sum of €70 million or €80 million alone is completely understating it. As I mentioned earlier, without Bord Gáis's involvement, I would argue that this project would have cost tens, if not hundreds, of millions more had it not been because of the control and project management we brought to what is a unique achievement. To the best of my knowledge, what has happened here on two fronts in the past 12 or 18 months has never been done anywhere previously. First, we are delivering 27,000 metres a month, which has never been done anywhere in the world. At the committee in the past month, we confirmed we had consulted Scottish Water and Thames Water. When we said to those bodies that our target was 27,000 metres a month, they said we could not do it. However, we are doing it. Second, from a standing start with a letter from Government asking us to do it in 18 months, we have created a national utility with systems, processes and staff. I would argue that has never been achieved anywhere. The utility is now up and running. We have met all the milestones that have been set for us. We are on time and on budget.