Pat Rabbitte (Dublin South West, Labour)

I can assure the Deputy that employment creation is the central economic objective of the Government. This issue encompasses a number of key Departments, including Enterprise, Jobs and Innovation, Finance, Public Expenditure and Reform, Education and Skills, and this Department.

In so far as my own responsibilities are concerned, I have statutory responsibility for the State energy companies as well as for RTE and An Post. I also have more general responsibility in the areas of energy and telecommunications which impinge on competitiveness.

It is the case that ESB, Bord Gáis Éireann, EirGrid and Bord na Móna have invested significantly and cost effectively in Ireland's energy infrastructure and the energy sector over the last decade. Their current corporate strategies, in line with my overall objectives for the energy sector, commit to continued investment in the energy networks and in renewable power generation.

The investment programmes of these successful State companies are critical for the regeneration of the economy, for inward investment and for regional development. ESB, BGE and Bord na Móna have consistently paid dividends to the Exchequer over recent years and are major employers as well as generators of economic activity.

EirGrid, as the State-owned transmission system operator, operates the successful single electricity market, thus ensuring security of energy supply for business and consumers. EirGrid is currently completing, on behalf of the Government, the construction of the east-west electricity interconnector and is working to roll out vital transmission infrastructure under GRID25. The investment in interconnection and the transmission grid is critical for the economy and for achieving our ambitions in renewable energy.

The Government recognises that the cost of energy in Ireland is a serious competitiveness issue facing energy consumers during this difficult period for the economy. The provision of secure, sustainable and competitive energy supplies is critical for the economy and is a challenge we are determined to meet.

Additional information not given on the floor of the House

The competitive nature of the Irish energy market, which is characterised by price transparency and the highest level of customer switching in the EU, helps put downward pressure on prices. In addition, we must focus on all possible additional actions to mitigate costs where possible for business and domestic customers. Additionally, from an electronic communications policy perspective, competition and investment certainty have given rise to significant competitiveness improvements over recent years. New entrant service providers have increased choice and quality and driven prices downwards, all to the benefit of business and residential customers.

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