Brian Cowen (Laois-Offaly, Fianna Fail)

Obviously I agree with the Deputy on the matter. The electricity Bill has 172 heads. It will allow the ESB to be converted into a plc under the Companies Acts and to consolidate existing electricity legislation. The Deputy will also be aware that the Minister for Communications, Marine and Natural Resources announced his intention to review the state of the industry and what strategic decisions should be taken in the future. Ongoing discussions are taking place at management and union level. Following the implementation of the PACT agreement, I am sure the ESB can continue competitively as a dominant player in the market. While the heads of the Bill were approved some time ago, it is a question of considerable continuing work. It is not expected to be taken this year. The review announced by the Minister predates all of that. We will have plenty of opportunity to discuss it here and in the industry generally quite apart from waiting for the Bill to reach the Order Paper.

The energy (miscellaneous provisions) Bill will amend the powers of the Commission for Energy Regulation to regulate assets not owned by the ESB, give the Minister power to give general policy directions to the regulator and permit the regulator to claw back any windfall gains accruing for electricity generators. It will also update existing legislation and introduce new provisions regarding natural gas safety. The Bill will probably be published in the latter half of this year.

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