Eamon Ryan (Dublin South, Green Party)

I do not propose to accept this amendment, as Deputy McManus predicted. As outlined on Committee Stage, I am committed to the development of evidence-based policy making. Although formal regulatory impact analysis has not been conducted, I am satisfied this Bill stands as an example of good regulatory practice. My officials and I consulted widely with the industry and have held detailed discussions with the Office of the Attorney General and the energy regulator in order to ensure the regulation is robust. I am confident the requisite analysis has been done and that this approach is correct. As such, I want to see this legislation implemented as soon as possible. We will not benefit from delaying further. We are aware of the views of industry on this measure and further public consultation will not unearth further issues that have not already been considered by my Department.

I note the Act has no specific commencement provisions. Rather, it comes into force on enactment. Since Report and Final Stages are being taken today, requiring a regulatory impact analysis to be conducted before enactment would not be practical in the time available. The legislation represents the only viable option expected to meet with the reasonable degree of success in recovering the majority of the carbon windfall gains. It has been approved by the Government and the Attorney General, who is satisfied the legislation is robust. Since carbon windfall gains are a temporary windfall, I intend to enact the legislation without further delay. I cannot accept this amendment.

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