Ervia, the commercial semi-state company which provides strategic national gas and water infrastructure, has today published its annual report for 2018 and signalled its commitment to protect precious resources and lead on decarbonisation, while supporting economic growth through a significant capital investment programme.
The annual report shows stable revenue of just under €1.5 billion in 2018, with dividends of €139 million paid to the exchequer. Capital investment in critical infrastructure increased by 23% during the year, with total capital investment coming to €826 million. The Government’s funding of Irish Water in 2018 amounted to €1.1bn which represented over 80% of Irish Water’s total funding.
Tony Keohane, Chairman of Ervia, says: “Ervia delivered a solid financial performance in 2018, continuing to be a strong contributor to the Irish economy as well as investing in its future. Irish Water invested €683 million in providing a safe and secure supply of water and in addressing compliance issues. Gas Networks Ireland invested €143 million in critical infrastructure on the gas network and in growing new connections, as well as highlighting the role of natural gas in the transition to a low carbon economy.
“Given the importance of national climate planning, during 2018, a feasibility study was progressed by Ervia into the potential of carbon capture and storage for Ireland.”
The capital investment programme included the twinning and commissioning of the new 50km gas pipeline between Cluden and Brighouse Bay in Scotland, which is reinforcing security of gas supply across the island of Ireland and boosting the operational flexibility of the Irish gas network. Irish Water’s capital delivery included the award-winning Kerry Central Regional Water Supply Scheme at Lough Guitane, which is providing a safe and secure supply of water to over 62,000 people in Kerry.
Cathal Marley, interim CEO of Ervia says: “Ervia is investing heavily in Ireland’s water, wastewater and gas infrastructure. With the impact of climate change, the forecast increase in population and the pace of economic development, demand for water is increasing. We are committed to delivering the significant investment in water infrastructure as set out in the National Development Plan and Project 2040.
“Looking to the future, we have a world class, state-owned gas network which can be leveraged to play a critical role in addressing the decarbonisation challenges across the electricity, transport, heating and agricultural sectors.”