Richard Bruton (Dublin Bay North, Fine Gael) | Oireachtas source

I thank the Deputy for the amendment and for raising the issue of the single electricity market. As he outlined, we had a useful debate on the issue in committee and the House recognised the importance and value of the single electricity market. It is an all-island market that works satisfactorily. It has brought significant savings, North and South, and it is a market that will continue in a jointly-operated single market with one transmission system even after a British exit. The single electricity market has been very valuable. It was set up with legislation, North and South. The single electricity market committee comprises the Commission for Regulation of Utilities, CRU, and the Utility Regulator of the North and it is independent under law. It does not report to the Minister. Rather, it reports directly to the Oireachtas.

There are a number of reasons it is not appropriate to accept this amendment. In the first instance, I am satisfied that the single electricity market committee has all the powers it needs. In the case of the CRU, these powers are set out in our Acts and there obviously is legislation underpinning the Utility Regulator in Northern Ireland. The Oireachtas cannot legislate unilaterally for the operation, North and South. It is beyond our jurisdiction to be seeking to legislation for the operation of bodies although they participate in the single electricity market committee. We are confident that it will continue to be jointly operated and that there is great support for it not only the North and the South but in the UK and the European Union.

This amendment is not necessary in the first instance. It would be inappropriate to seek to have an independent regulator report to the Minister. Under existing legislation, independent bodies report to the Oireachtas. It is open to the Oireachtas committee to call in the CRU at any time if it wants assurances about the continuing alignment and operation of the single electricity market. I am satisfied that the amendment, although tabled with the best of intentions, would not be an appropriate amendment to put into this legislation. I am also satisfied that if the committee wants to receive reassurances from the CRU as events develop, it will be in a position to report. We have just passed amendments giving additional powers to the CRU to modify licences in the event of anyone exercising market power that would serve to disrupt the operation of the markets. This is a purely precautionary power but it is one that the regulators wanted because they did not want to have to wait up to ten months to modify a licence. This power has been provided but it will be very much restricted in use to respect the operation of this market. It is a power in reserve for the CRU should it be necessary.

I regret that I am not in a position to accept the amendment.

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