Dominic Hannigan (Labour)

I join Senator Leyden in calling for action on the whole issue of electricity prices and the ESB. Prices can be reduced. Last year the ESB made hundreds of millions of euro in profits. People desperately need cuts in their monthly bills and they would certainly welcome it. The fact that electronic billing has been introduced will obviously cut ESB costs so it can afford to reduce prices. In the UK many electricity companies are cutting their costs to consumers by as much as 10% because of the advent of electronic billing. There is scope for the ESB, too, to make changes and I would encourage the regulator to impress on the company the need to do so.

I agree with other Senators on the whole issue involving the naming and shaming of the golden circle. I listened to the Minister for Defence, Deputy O'Dea, on today's "Morning Ireland" and he said that to do so might be prejudicial to any future trials. He also said he did not believe it was right to do so just to satisfy curiosity. However, this is not about satisfying anybody's curiosity, it is about trying to restore some confidence, not just in the banking system, but in the political system and our international reputation.