Jim Walsh (Fianna Fail)

I have listened to the points made by Senator O'Reilly. The motivation behind his amendment is just as he articulated. Over recent years and thanks to the Minister and his Department, there has been a significant co-ordinated effort being made to inject real competition into the area of electricity generation. This is not an easy task. Many countries, in particular smaller countries such as Ireland, have had a State monopoly on the generation of electricity. The State company was established to provide for the electricity needs of the country. This arrangement has provided a good example of how the semi-State sector can play a part and be efficient. The ESB has been a remarkable company, not least in the international business it has built up with its expertise in consultancy services.

In order to provide competition, which is legislated for in EU regulations, there has been a growth in green energy provided by alternative suppliers and this is to be welcomed. The Minister has spearheaded the construction of the interconnectors which will provide energy from our neighbouring island and in time from France and continental Europe. The amendment recognises where significant investment has been made. I am familiar with the arrival of Endesa into the Irish market. It has purchased Tarbert and Great Island stations. Great Island station is quite close to my home and I know many of the people who have worked in Great Island. The purchase of the Great Island station means jobs and competition will all be supported. I raised the following point during the debate on Second Stage. I concur with the thrust of the legislation regarding the carbon levy, specifically where windfall profits are coming back. There is an anomaly where new entrants, who are not in production at this stage, have factored the windfall into the purchase price of the facilities. It could have the effect of creating a distortion in the market.