Results 7,701-7,720 of 34,663 for speaker:Seán Fleming
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: The contract did not have to provide for that, but the Department chose to go that route. It could have retendered. If Enet had invested in the latter years of the contract and the contract was not renewed, I presume it would have included a mechanism of compensation for unrecovered investment.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: I gather from Mr. McCarthy that, when Enet entered into the last few years of its contract, it put it to the Department that it wanted to continue investing.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: From Enet's point of view, that would only have been viable if it had been able to recover the investment over a seven year period. That is one of the reasons Enet would have sought an extension.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Was there a corresponding opposite agreement to the effect that, if Enet continued investing but did not recover its investment because it did not get an extension, it would not then be out of pocket?
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: We will allow Mr. McCarthy to check. He gets my meaning. I presume the contract was a two-way street.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Back to the State.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: If investment was incurred in the latter years of the contract and, because Enet did not receive an extension, that investment transferred back to the State, where would Enet's non-recovery accrue? A normal business would want to get a return on investment, but Mr. McCarthy is saying that it went to the State.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: I am talking about further investment.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: When Mr. McCarthy stated that, in the event of the contract not being renewed, he wanted Enet to get a return on the investment it had made latterly, to what investment was he referring? That seems to be the pitch he was making.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Mr. McCarthy made that statement-----
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: -----but has now said that, if Enet made an investment, it was really the State's investment because it would revert to the State.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Was Government approval for that required?
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Enet has a big presence in Portlaoise, but if it decided to go to Mountmellick in my area, that would be its call.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Enet can make that decision.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: People can provide MANs-----
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: We are getting that. Mr. McCarthy stated that all MANs were connected to Dublin.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Is that through ESB pylons? Bord Gáis, Waterways Ireland and Iarnród Éireann have been mentioned.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Now.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: Enet has a contract with the Department that looked unusual to us. All of the companies represented - I am sure Enet's retail company is included in this - are governed by the regulator.
- Public Accounts Committee: Enet (14 Feb 2019)
Seán Fleming: No. I am coming to the reason it sounded unusual to us.