2007 a system of economic regulation had been set up similar to the existing system in England and Wales where Ofwat regulates the water sector. The Northern Ireland Authority for Utility Regulation was appointed to carry out this role. Performance benchmarking by the regulator showed that there was a "performance gap" with England and Wales concerning drinking water quality, wastewater quality, leakage, customer service and efficiency. This gap has now been more than halved. April 2017 marked the Company's first 10 years, in 2016/17 the Company reported record levels of wastewater compliance, with water quality compliance remaining a near record levels. Structure NI Water is a Government Owned Company (GoCo) – which is a statutory trading body owned by central government but operating under company legislation. This means that the Company's corporate governance structure and compliance is with the Companies Act 2006 and the principles of good corporate governance as set out in the UK Corporate Governance Code, where appropriate. Major reservoirs and treatment works Silent Valley Reservoir Lough Neagh Ben Crom Reservoir Spelga Dam and Reservoir Dunore Point Drumaroad Water Treatment Works, built as part of the Aquarius Mourne Water Project See also List of Government departments and agencies in Northern Ireland References External links Official Website 1999 establishments in Northern Ireland Utilities of the United Kingdom Northern Ireland coast and countryside Government-owned companies of Northern Ireland Water supply and sanitation in Northern Ireland