The utility's Kate Gannon said: "We have a long way to go"
Irish Water is urging the public to continue to conserve water despite some recent rainfall in parts of the country.
Water restrictions are in place across the country following the recent heatwave and drought conditions.
Restrictions remain in place for 22 water supply schemes across Clare, Cork, Donegal, Galway, Kerry, Kilkenny, Limerick and Offaly, with around 24,000 people experiencing 'restricted or intermittent' supply.
Overnight water pressure reductions were introduced for Dublin and parts of Wicklow on Monday, affecting around 600,000 people.
However, Irish Water today says these customers are 'not seeing any discernible impact', with the measures to be reviewed next week.
Speaking today, Irish Water's Kate Gannon said water resources are 'significantly depleted' and continuing to drop.
She said: "In the absence of significant rainfall amounts, Irish Water continues to be concerned about the water resources into August and September.
"Water conservation efforts by Irish Water, the local authorities and our customers need to continue at their current levels."
She added: "While any rainfall at all is welcome, we have a long way to go.
"Continued conservation is essential if we are to protect and safeguard future water supply.”
Meanwhile, a nationwide hosepipe ban remains in effect until at least the end of the month.