Eamon Ryan (Dublin South, Green Party)

Together with officials of my Department I met with the review group on State assets and liabilities on 13 October. The Department, with my approval, made a submission in the matter to the review group in advance of the meeting. The meeting was a useful and wide ranging discussion. The review group is expected to report to the Government by the end of the year. It will then be for the Government to decide on the issue.

I fully agree that given the current economic situation and the severe pressures on the public finances, full consideration must be given to making the best use of State assets. I have responsibility for a considerable number of commercial semi-State bodies. These companies play a critical role in the Irish economy, by providing essential infrastructure and services to consumers and enterprises. They are also significant employers and most of them contribute significant dividends to the Exchequer.

The principal bodies under my remit are the State energy companies, public service broadcasters and An Post. I also have policy responsibility for the exploitation of spectrum and a number of natural resources.

The major energy utility companies, namely, ESB, Bord Gais, Bord na Móna and EirGrid, are pivotal contributors to the achievement of Government energy policy objectives. They ensure security of supply to the economy and consumers through investment programmes in the national energy networks and power generation including major renewable energy investments. They are collectively committed to decarbonising the energy system in support of the smart economy. The supply companies, ESB and Bord Gais, have also contributed to the much more competitive regime now operating in the electricity and gas markets.

I would expect that the review group will take strong account of the major contribution made by the State companies at both sectoral and national economic levels. As I stated already, any decisions on disposal of any State assets will be a matter for the Government.

The work of the review group also presents an opportunity to examine existing structures and practices within the State ownership model, and to assess how best these valuable assets can contribute to national investment priorities and help restore growth. I believe for instance that the review group should give consideration on how best to extract further sustainable value for the State by exploring innovative ways to secure investment, including new private sector financing models, in renewable energy sources. There is major untapped potential in the national forestry sector, and in the energy biomass and environmental sectors. Both Bord na Móna and Coillte, with their core skills and resources, and considerable land banks, are well placed to develop these sectors further and I have raised this specifically with the group.

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