Uisce Éireann’s capital expenditure on critical water and wastewater infrastructure exceeded €1 billion for the first time last year, according to its newly-published 2022 Annual Report.

Capital investment amounted to €1,061 million (up from €851 million in 2021) representing an increase of €210 million. Uisce Éireann is currently on target to invest €1.2 billion this year through its capital programme.

The company reported revenue of €1.3 billion (comprising €961 million Government subvention and €348 million in commercial revenue), operating costs of €866 million and increase in the value of its net assets to €4.68 billion.

Commenting on the water company’s performance in 2022, Niall Gleeson, Uisce Éireann CEO said:

“I am pleased with the progress we made in 2022. There is no doubt that the development of a modern water infrastructure is critical to Ireland’s economic and social development and future. A growing economy needs essential water infrastructure and capacity to thrive as much as it needs roads, hospitals and energy generation. Our focus is firmly set on working towards realising essential projects including the Water Supply Project - Eastern and Midlands Region and the Greater Dublin Drainage Project to ensure we can support the projected economic and population growth.”

Key projects progressed during 2022 included the capacity upgrade at the Ringsend Wastewater Treatment Plant, Ireland’s largest treatment plant responsible for 40% of all wastewater treated in the country. When completed in 2026, this project will help provide the required treatment capacity until the Greater Dublin Drainage project is commissioned.

Uisce Éireann also continued to deliver key water infrastructure to enable housing development. In 2022 the utility issued nearly 4,500 connection offers associated with circa 37,000 housing units and completed over 4,000 connections to water services infrastructure associated with more than 25,000 housing units.

Supporting housing development has remained a key priority in 2023, with Uisce Éireann’s capacity registers emerging as a key tool informing developers and planners which areas have capacity for growth and development.

In 2022 the utility delivered a total of 15 new and upgraded water and wastewater treatment plants including the completion of five projects listed on the National Development Plan. It also took a significant step forward in the transformation of the water services sector in Ireland with the establishment of the Uisce Éireann Transformation Programme.

Significant progress was also made in tackling leakage last year, resulting in a net savings of 29.81 megalitres of water per day, the equivalent of the daily demand of a town the size of Tuam.

During the year, Uisce Éireann also progressed several initiatives to enhance the safety and security of water supplies by improving the operation and monitoring of its water treatment plants, including launching a new National Operations Management Centre in Dublin to monitor its 92 largest facilities.

Commenting on the financial results, Uisce Éireann’s CFO, Chris McCarthy said:

“I believe we delivered a strong financial performance during 2022, particularly in the context of the ongoing challenges associated with record level energy costs and general inflationary pressures. Uisce Éireann, as one of Ireland’s largest public sector energy consumers, adopts a prudent approach to the procurement of electricity and strong financial cost control. This control and discipline means there is a constant focus on managing our expenditure.”

2022 is Uisce Éireann's final year to be audited by its sole commercial auditor. Following the separation of Uisce Éireann from the Ervia Group and in accordance with the Water Services (Amendment) Act 2022, Uisce Éireann's financial statements for 2023 will be subject to a dual audit involving the Comptroller and Auditor General. Uisce Éireann will be accountable to the Public Accounts Committee for its 2023 Annual Report.

Click here to download the Annual Report in full