Jim Walsh (Fianna Fail)

I welcome the response of the Minister of State who consistently demonstrates a firm grasp of the issues in this complex field. Both Senator O'Reilly and I emphasised the importance of competitiveness. The Minister of State echoed the Minister's comments in the other House about the likelihood of a double-digit reduction in energy prices. Such a move would be welcome to consumers and businesses in the current climate. It behoves us all to play our part in solving the current economic problems and Senators from all sides have articulated this need in a constructive manner. While we are all loath to accept a decrease in our living standards, it will be inescapable in the current global recession.

Recent increases in energy bills have caused angst among domestic and business users. The Minister acknowledged the need to ensure we have a competitive climate in which businesses can operate and emphasised the importance of competitiveness in the areas for which his Department has responsibility. The purpose of these efforts is to achieve efficiencies and retain the maximum possible number of jobs during a period when Ireland, Britain, the rest of Europe and the United States are haemorrhaging jobs. Unemployment is devastating families and is probably the greatest affliction a person can experience in an economic downturn. I welcome efforts being made in this regard.

The ESB competes with Bord Gáis in the field of electricity generation. Those who live in proximity to a generating station will be aware of the spending power exercised by ESB employees in their area. I understand the average salary among the 6,000 ESB staff is in the order of €76,000, a considerable sum. I was astonished to learn the company increased pay in the current climate. While people are entitled to pay increases in normal circumstances, everyone must be conscious of the impact of their actions on those whose wages are being substantially reduced — it is not uncommon to hear of private sector salaries being cut by 15% — and the large number of people who are losing their jobs. The ESB's decision to hold wages to the current level for the next two years is a belated but necessary and welcome step.

The Minister of State noted the Government's strong emphasis on renewable energy sources, and investment in wind energy and wind farms has been significant. Senator O'Reilly referred to the co-operative society movement. When I was chairman of a co-operative we used to hold meetings in Horace Plunkett's house. Co-operatism and volunteerism will come back in vogue in the current climate and should be promoted. We have learned of the excesses of some of those who control capitalist corporations and the manner in which they salted the books on their shareholders and others. We must ensure these practices do not recur. We should encourage the values which prevail in the co-operative movement. Technology in the wave and tidal energy area is not as developed as it might be. What emphasis, if any, is Bord Gáis Éireann putting on that area as distinct from wind energy? This is an island country and if technology can be developed to extract energy efficiently from wave and tidal power, it would be a great advantage to us. Obviously, it would be very clean energy. Given the interconnectors we are building and on which so much emphasis is being placed by the Department and the Minister, it would perhaps open avenues to export energy. Has Bord Gáis Éireann a remit and commitment in that area?