Barry Cowen (Offaly, Fianna Fail) | Oireachtas source

I thank the witnesses for their submissions. I will deal with NewERA first. To many, the methodology behind NewERA and the failure to meet the EUROSTAT test undermined the whole concept behind and reason for the establishment of the water charging system. It would appear that passing the test is not now possible. I am conscious of the recommendations of the expert commissions and some questions emanating from that in respect of borrowings. What is the current borrowing cost of Irish Water in comparison to ten-year Government bonds? I ask this because, at present, I believe borrowing is done on a yearly basis. Is that correct?

If the State is to become the sole customer of domestic water tariffs, is it feasible to borrow on the markets whether it be by Irish Water or its parent company, Ervia, thereafter? Has Irish Water undertaken an analysis of this shift, as proposed by the expert commission report? It was published some time ago and I am sure there has been some consideration of the recommendations contained in it. It would be interesting to hear at this juncture whether there is any comment from NewERA in respect of this issue.

Some would say that the cessation of water metering was on the cards anyway because we were led to believe that 300,000 properties could not be metered. Has the shift of any remaining metering to district metering affected borrowing capacity if that remains a commitment or the wish of Irish Water even with the State being its only customer in respect of domestic charges?