Brian Cowen (Laois-Offaly, Fianna Fail)

It is not correct that electricity prices here are among the highest in Europe. As a result of reductions in the course of the last year, electricity prices are now below the European average. Work is ongoing in this regard in order to improve the competitiveness of Irish industry. We have made certain changes that sought to ameliorate the problem, particularly for business users, in order to ensure that we keep energy costs down. We are a small island market. Despite the emergence of an all-Ireland electricity market, which has brought its own benefits, we intend to pursue interconnection in order to become part of a wider regional market and to secure access to other sources of energy for purchase, which will ensure we have a proper competitive system. There has been much change and more players entering the marketplace to assist in that. However, it is not just a question of more players in the smaller market on this island but also securing interconnection to the wider regional market and ensuring that this, in turn, will bring competitive pressures in terms of price and choice to consumers.

We are making huge investments in public transport in this city. We have only seen substantial investment in public transport in Ireland in the last ten or 12 years. There are major transport projects in various stages of preparation, while some of them are already coming on stream.

The Deputy asked about the Government's position on legislative change. The Minister is dealing with that matter. I am aware that the committee has done work in this area. The preparation of legislation is a matter for the relevant Department and must take account of what has been said. I am not aware of what happened at the most recent meetings between the Minister and the committee, but it is best to work together to get an effective operation. If an adversarial approach is taken, then it is hard to make progress but I am sure there is much good work being done.

The Deputy also spoke about climate change and wave energy. I met the representatives of an American company prominent in that area who told me they were proceeding with further capital investment here. We hope that much of the work they are doing will result in a successful commercial outcome. I replied to Deputy Kenny previously on wind energy and the other sustainable energy sources.

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