It is understood that up to 80,000 businesses across NI will be affected by the increases, however NIW said the increase is below the current inflation and less than the maximum allowed increase.
NI Water Director of Finance & Regulation, Ronan Larkin said: "The amount by which NI Water can increase customer tariffs is determined by the Utility Regulator, and we had the option to increase tariffs by up to 4.6%, on average, in 2018/19. The decision to limit the increase, was in part due to the additional sustainable cost savings which NI Water has secured.
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"In limiting the increase in this way, we have sought to strike a balance between our need to generate sufficient income to allow us to continue delivering our services and minimising impact on business customers.
"NI Water, like other businesses, has been impacted by rising electricity costs and other cost increases outside our control. Whilst the cost of providing water and sewerage services to our customers has risen, we have been able to absorb some of these and minimise the increase in our tariffs.
"We have worked closely with the Utility Regulator and with the Consumer Council to ensure that any increase remains as low as possible, and continues to represent good value for money."
Leaflets will be mailed to non-domestic customers to notify them of the forthcoming pricing changes and specifically, how they will be applied.
(MH)
