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

The position is that this company will operate under the very strictest governance. We will have an office overseeing it with financial, technical and full reporting capability. Every element of the roll-out of this will be reported. There are very strict reporting requirements. In terms of the pricing, this will be a single wholesale provider but there will be multiple retailers operating on that network. The price it charges to those retailers is strictly governed by the contract and will be regulated. The contract, which cannot be drilled down to a one-page illustration, extends to 1,500 pages. The obligation of this company set up especially for the purpose is to fulfil the obligations of that contract. It will have a legal obligation to do so. My representative on the board will be seeing that that company, in everything it does, meets it obligation to fulfil the contract into which it has entered. We have a very strong governance structure with strong performance tests, strong clawbacks being applied to protect the taxpayer, and rigorous oversight and reporting of the activities of the company.

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