Oireachtas Joint and Select Committees
Thursday, 28 March 2019
Public Accounts Committee
2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Communications, Climate Action and Environment
Broadband Service Provision: Discussion (Resumed)
9:00 am
Mr. Mark Griffin:
Yes. That is an additional revenue share that was negotiated. There is a further reduction in the State's potential liability at the end of the contract. That is a clawback mechanism in place that amounts to approximately €6.4 million. The assessment also demonstrated that by extending rather than retendering, we could add to the value of the asset under different scenarios. If we retendered, the additional value to the asset would be €14 million but if we extended, it would be approximately €35 million. That is a different benefit arising out of it. Those are the financial benefits. As I said earlier, there is a range of non-financial benefits that we see as being as important, if not more important, than those.
No comments