Seanad debates
Thursday, 27 March 2003
Central Bank and Financial Services Authority of Ireland Bill 2002: Second Stage.
Unfortunately, we have a succession of evidence that regulators, while they are supposed to have a brief to look after consumer interests, inevitably end up with what they see as a balanced position. There is a classic example in the city in which I live. The Office of the Director of Telecommunications Regulation, now subsumed into ComReg, has continuously succumbed to the arguments of a cable television service, allowing it to do things which are in breach of its contract and charge fees which are quite exorbitant. There is no particular reason other than an historic one cable television should cost more in Cork than anywhere else in the country but it does because nearly 20 years ago the service was being transmitted by a long cable from the Comeraghs to Cork involving considerable investment. That was given up years ago and satellite television services are now used but the regulator still allows a rate of charge for the service based on an antiquated and out-of-date argument.
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