Pat Rabbitte (Dublin South West, Labour) | Oireachtas source

There are the most strict procedures in terms of any Minister or Government disposing of State assets, with which I must comply and have complied. The bargaining process, although I am unsure whether that is the correct term, is at the final stages and obviously, as far as the different bidders are concerned, there are questions of commercial sensitivity in this regard. However, on the issues raised by Deputy Colreavy regarding the workforce and employment, there are no compulsory redundancies or job losses. The transfer of undertakings legislation known as TUPE applies in respect of the transfer to a new energy company. The terms and conditions are there and are well established and the new undertaking would be obliged to honour them. Consequently, there is no loss of employment and I sincerely hope there will be a positive addition to employment as a result of this development. A new private sector energy company will be on the landscape that presumably will have made this purchase because it can bring investment to bear on the growth of the company. Hopefully, this will lead to some increase in employment. It certainly will enhance further competition in the sector. As I indicated to Deputy Naughten, it is a reasonable request and I note Deputy Moynihan has tabled an amendment to the effect that whoever is in my job in 12 months' time will report back on these issues to the committee or to the House itself.