Setting up a utility the right way
Stephen Donnelly has eight salient points future administrations should heed to avoid Irish Water-type fiascos
Published 05/04/2015 | 02:30
There's a lot to be learned from the Irish Water saga. Here are a few things that future governments might take away.
1. Do the math - first. To date, it still hasn't been possible to get a detailed financial plan for the establishment of Irish Water. Over the course of the past 18 months, the numbers have moved around, frequently - capital investment levels, cost savings, off-balance sheet requirements, household charges, and so on. You wouldn't be given a loan to open a sweet shop with the lack of financial information available on Irish Water.
When establishing a multi-billion-euro public utility company, create a detailed financial plan, and then move to point 2.