Finian McGrath (Dublin North Central, Independent) | Oireachtas source

I thank the Acting Chairman, Deputy Troy, for the opportunity of speaking on this new piece of legislation, the Gas Regulation Bill 2013.

This is an important debate, as we constantly must discuss, review and look at options in gas and the other national resources. This is a particularly difficult time in our economic history and there is an urgent need to create jobs and redistribute the national resources in a way that will benefit all of the people. We have a duty to look seriously at reform and change, as many of us promised at the last general election. Of course, restructuring is part of that agenda, but we also must not be blinded by the view that all types of privatisation are good for the economy and society. This view is blatantly untrue and we need to have an open mind on this Bill, particularly on gas regulation.

The main provisions of the Bill are: to provide for the restructuring of Bord Gáis Éireann, BGE, by the establishment of a gas networks subsidiary; to provide for the sale of Bord Gáis Energy by providing for the establishment of an energy subsidiary; to change the ministerial ownership and control provisions for BGE; and to provide for consequential amendments to existing gas legislation.

I urge the Minister to beware of fire sales of the natural assets. The only game in town, as the Minister of State knows well, may be summed up by three words: jobs, jobs and jobs.

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