NI Water is to continue to receive funding for public services, Infrastructure Minister Chris Hazzard has conformed.
This means the firm will not need to introduce domestic water charges to customers.
Minister Hazzard said brought forward the draft Grants to Water and Sewerage Undertakers Order 2017 to the Assembly.
He said: "Without funding, NI Water would quickly run out of money and these services, which are fundamental to public health, economic growth and environmental protection, would be put at risk.
"The current powers to pay the subsidy will expire on 31 March 2017 and the recent 2016 Water and Sewerage Services Act, passed by the Assembly in January last year, provided the power to extend this date by an Order laid before, and approved by a resolution of, the Assembly.
"The imminent dissolution of the Assembly means that I have had to bring the draft Order to the Assembly today as a matter of some urgency. It will extend the power for my Department to pay the subsidy to NI Water in lieu of domestic water charges."
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