Mr. Patrick Swords:

The Deputy has raised a number of issues. I speak from an engineering perspective. The figure of 20% of €6 billion is correct. We have left ourselves in a very precarious situation. I must mention the Corrib development, which has been stalled because of the problems with the planning process. For example, an unnecessary tunnel was forced upon the developer and it is unacceptable that someone died in that tunnel. We also could have built the Shannon LNG and it would not have cost us very much. Instead, the arrangement with the State was unfavourable and the development did not proceed. We have options.

On the question of expansion of the electricity grid, I do not share the Deputy's optimism. If we do not keep the cost of electricity competitive, usage will not increase. We are in a very serious position because the cost of electricity in Ireland is highly uncompetitive, at 1.7 times the cost of electricity in France and 1.65 times what Finnish industry pays. The cost of gas in the United States is between three and eight times the cost in Europe; the cost of electricity is two to three times lower than in Europe. As a German speaker I am familiar with German industries, and they are walking out of Europe and moving elsewhere. The population of the state of Texas grew by 425,000 over a year ago because of a significant construction boom, much of which was funded by European money invested in production and chemical processing plants, in which I have had an involvement.

One of the most effective ways to use electricity is through what is termed a heat source pump, a ground source pump. This is a renewable device which provides three units of heat out of one unit of electricity. This is a renewable technology but it will not work if the cost of electricity increases. If we do not keep the cost of electricity competitive, the market will not grow.