Pat Rabbitte (Dublin South West, Labour)

The Government has decided that Bord Gáis Éireann's energy business and some of the ESB's non-strategic power generation capacity will be part of the assets disposal programme required by the memorandum of understanding. The Government has also reiterated its commitment to retaining the ESB as a vertically integrated utility in State ownership and to retaining the electricity and gas networks, as well as the two gas interconnectors and the east-west electricity interconnector, in State ownership. I do not envisage job losses in ESB or BGE as an inevitable outcome of the planned disposals. The proposed sales can deliver positive outcomes for Ireland's energy markets, for the two State utilities and their employees, for consumers and for business. The ESB will remain a strong strategic player, positioned more competitively in the all-island energy market and in due course in the integrated European market. BGE is a dynamic and successful company which has delivered real benefits for consumers as it has invested in and increased its power generation and energy supply. The sale of BGE's energy business will support this vibrant company and its employees in continuing to grow while enhancing competition in the energy market for the benefit of the economy and consumers.

The asset disposal programme will be implemented in an orderly process over time in a way that allows all policy regulatory and financial issues to be addressed in advance and that ensures full value for the State. It is important to emphasise that the Government has agreed with the troika that a proportion of the proceeds of the State assets programme can be used for reinvestment in support of employment and economic recovery.

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