Mr. John Melvin:

The European Union brought the package through last summer. I do not have the full timeline but the date on which this particular legislation was pulled together might have been September or October - it was one of those months. We then engaged with the Department bringing that into Irish legislation. We have been engaged with the Department on it since. We appeared here at the meeting on the pre-legislative scrutiny.

The end of the Deputy's question touched on confidence in the markets. Ireland has implemented the European legislative framework, which had a €118 per megawatt hour figure as standard, with options for the member states to pick lower figures. In the case of Ireland, thus far as it passes through the Houses, there is a figure of €120 for solar and wind. It is predominantly wind that will be affected by this. Those were choices made and those choices will be brought through the Houses for review and analysis.

In terms of reacting in ways that are consistent across Europe, it is important that Ireland Inc. does so because we spoke earlier about attracting investment. Pension funds coming to invest want to know that this is a safe, secure and stable place in which to invest. That equity is needed for these infrastructure projects to be built. A balance has to be struck between reacting in a Europe-wide and considered way, noting also that having done so, the lower figure was chosen. It is a matter for policymakers and legislators to decide the final balance. We did play a role in this and we continue to do so.