Tommy Broughan (Dublin North East, Labour)

In that era the Minister was a member of the famous gang of four who were, allegedly, rebels in the Fianna Fáil Party. Look where he is now.

What is the precise difference between the way Bord na Móna as a plc can now operate compared to how the ESB and Bord Gáis Éireann, the other two significant public sector energy companies, operate? Does Bord na Móna have more flexibility with regard to seeking capital for its diversification and expansion programme in the midlands or what additional powers has it? We have obviously increased its limit.

I remember some years ago the Minister's predecessor, Deputy Dermot Ahern, got very excited one Sunday about the ESB board which had gone to the New York financial market to negotiate a good loan for the company for major rebuilding of the network. The Minister had not been told about it — he missed out on many other areas in his portfolio during that era also — and got very excited about it on the six o'clock news. How dared the ESB go over his head and deal directly with financial markets? To what extent does this Bill enable Bord na Móna, which is already a plc, seek further capitalisation and embark on a hopefully vibrant diversification programme?

Earlier, I commended the company for its historic role in the midlands in maintaining employment and utilising our existing native energy resources. Times are changing. What are the company's intentions in terms of biomass? This appears to be an interesting avenue in terms of renewables that Bord na Móna has the experience and expertise to develop. I would like clarification on these issues. I welcome the additional freedom we are giving this important public sector company to operate through these amendments.

See this speech in context