Number earning more than €100,000 at Irish Water increased to 133 last year

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The numbers earning over €100,000 at State owned utility, Irish Water last year increased by five to 133.

hat is according to the 2020 annual report for the State owned national water utility which show the impact of Covid-19 contributed to operating profits declining by 31pc from €380.3m to €261.8m.

The annual report showed revenues at Irish Water last year totalled €1.06bn and the bulk of revenues were made of a State subvention of €815m.

The 2020 €815m State subvention followed a State subvention of €855m in 2019.

The State has provided hefty annual subventions to the utility since first suspending domestic water charges in 2016 before formally abolishing them in 2017 after major public opposition against the charges.

The charges were set aside after more than €500m was spent on installing around 820,000 water metres across the country.

According to the 2020 annual report, 10 workers at Irish Water earned more than €175,000 last year.

These include Irish Water Managing Director, Niall Gleeson whose overall pay packet for 2020 totalled €239,000.

This was made up of basic salary of €200,000, pension contributions of €24,000 and short term employee benefits of €15,000.

The report shows a further eight staff earned between €150,000 and €175,000 with 33 earning between €125,000 and €150,000.

A further 82 earned between €100,000 and €125,000.

The numbers earning over €100,000 at State entities and across the public service increased last year as a result of the restoration of pay reductions introduced in the early part of the last decade to deal with the financial crash and its impact on public finances.

Last year, the agency’s non-domestic revenues declined by 17pc from €208m to €173m due mainly to Covid-19.

The accounts disclose that a provision of bad debts increasing to €41m was made due to Covid-19 and other inflationary cost pressures.

The report states that this was was partially offset by a further €25m in operating cost efficiencies.

The drop in non-domestic revenues was partly made up by an increase in revenues from new connections rising from €58.4m to €73.1m.

The numbers employed by Irish Water last year totalled 791 as its overall staff costs amounted to €62m.

Irish Water’s capital expenditure totalled €846m last year.

The utility recorded pre-tax profits of €121m after incurring non-cash depreciation and amortisation costs of €137.6m and finance costs of €3.5m.

The report states that any surplus is re-invested to fund critical infrastructure projects.

In his report, Chief Financial Officer at the Ervia Group, Ronan Galwey said: “Irish Water delivered a satisfactory financial performance during 2020, particularly in the context of the challenges introduced by Covid-19”.

Mr Galwey said cost containment measures were introduced to mitigate the financial impacts of lower revenues from non-domestic customers.

MD of Irish Water, Niall Gleeson said “2020 was an exceptional year of performance and achievement”.

He said from January 1, 2014, to the end of 2020, Irish Water has invested €4.5bn in public water and wastewater services.

Mr Gleeson said Irish Water is currently managing a portfolio of 300 capital projects and has delivered significant improvements since 2014.