Marc MacSharry (Fianna Fail)

We all have an interest in developing and maintaining an efficient and cost-effective electricity industry which is one which touches every home and business in the State. Electricity bills are a major item in everyone's household budget. Energy bills account for an even greater proportion of industrial and business costs. Furthermore, electricity production and consumption are accepted yardsticks of the vitality of a country's economy and it is hardly surprising that in recent years the electricity sector has grown by 6% annually. I hope it will continue to grow at its current rate to reflect our continued economic buoyancy.

As legislators, we have a duty to ensure energy is generated and distributed as efficiently and safely as possible and that the consumer, whether a business or private household, is able to avail of electricity safely and at competitive rates. We must also be in a position to provide for the continued increase in consumption, with an equivalent increase in electricity production.

In recent years we have witnessed a major endeavour by the Government to increase and regulate activity in the energy area. Some of the key milestones include the deregulation of the market; the tripartite agreement in February 2000 which set out the framework for the future of the electricity sector; the Electricity Regulation Act 1999; the establishment of the independent Commission for Electricity Regulation; the setting up of the ESB's national grid part as a separate independent company known as EirGrid; the joint decision to upgrade the main North-South electricity interconnector, and the plan that the electricity market will open fully to competition in 2005. These developments represent the most sustained series of decisions and activity since the days of rural electrification.