NI Water is currently a Government owned company, but Alliance has suggested that it be mutualised to create a self-financing business model that could make long term investments, in which all profits are put back into the company which would be owned by its customers and employees.
Stewart Dickson MLA said: “I think many people will be baffled by the fact that such a large profit was made by NI Water despite the desperate need to invest in our infrastructure and prevent the horrendous flooding many of us have experienced in recent times, and will no doubt continue to suffer in the future if not resolved through investment in the infrastructure.
“NI Water will actually have to hand back this profit to the Department for Regional Development, yet ironically they are currently attempting to secure funding from the Government for projects to alleviate flooding and improve our antiquated water system.
“It is about time we had a serious discussion on how we fund our water system to avoid flooding or disruption caused by heavy rain or an extremely cold period such as we had over the Christmas period of 2010/2011.
“I think the thousands of people who have been affected by flooding or thewater crisis believe that it is time to really address the way NI Water is funded and operated.”