Pat Rabbitte (Dublin South West, Labour)

As part of the State assets disposal programme, the Government has decided with the troika on the sale of Bord Gáis Éireann's energy business. Bord Gáis Energy is a dynamic and successful part of the Bord Gáis Éireann's business which has delivered real benefits for consumers as it has invested and grown in power generation and energy supply. The sale of Bord Gáis Éireann's energy business will support the company and its employees to continue to grow, while enhancing competition in the energy market for the benefit of the economy and consumers.

The Government has reiterated its commitment to retaining the gas networks and interconnectors in State ownership as strategic infrastructure which is fundamental to Ireland's security of energy supply and the economy. Following the Government's decision on State asset disposals, a group comprising my Department, the Department of Public Expenditure and Reform and NewERA has been tasked with progressing all policy, regulatory, legislative and financial issues to be addressed prior to the disposal of Bord Gáis Energy. This work which is ongoing is taking full cognisance of the recent Government decision to establish Irish Water within the BGE group. The decision reflects the Government's confidence that BGE's strong experience and capacities can be quickly deployed in the successful establishment and operation of Irish Water.

My Department, NewERA and the Department of Public Expenditure and Reform, in co-operation with the Department of the Environment, Community and Local Government and BGE, will ensure the work of preparing Bord Gáis Energy for sale and establishing the water utility in State ownership within the BGE group are advanced in a fully complementary way and to schedule. My Government colleagues and I are confident that BGE has the capacity to sustain its ongoing oversight and management of the gas networks, as well as working with the Government on the sale of Bord Gáis Energy at the same time.

It is the Government's intention, agreed by the troika, that the asset disposal programme will be implemented in an orderly process over time in a way which will allow all policy regulatory and financial issues to be addressed in advance and ensures full value for the State. In that context, it is the Government's collective plan to ensure the smooth implementation of the decisions to sell Bord Gáis Energy and establish Irish Water as part of the BGE group.

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