Simon Coveney (Cork South Central, Fine Gael)

I concede the question was so general that I did not expect precise answers. May I probe the Minister on one or two specifics; first, how does he intend to handle the separation of the ESB and Eirgrid? In essence what he is proposing is to take the transition system which is made up of 6,600 km valued at €840 million away from the ESB balance sheet and any ESB maintenance work and so on and put it under the direct responsibility of Eirgrid to manage it as a State asset. The principle of that is one with which I agree but there are some significant hurdles to be got over to achieve it. My understanding is that the ESB has very substantial borrowings based on the balance sheet that includes the transmission system and that the value of the transmission system is security for the ESB on some of its substantial spending programmes which involve significant borrowing. How does the Government plan to deal with that issue early next year?

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