Seanad debates

Tuesday, 29 June 2010

Electricity Regulation (Amendment) (Carbon Revenue Levy) Bill 2010: Committee Stage (Resumed) and Remaining Stages

 

3:00 am

Photo of Jim WalshJim Walsh (Fianna Fail)

I have listened with interest to the Minister's reply and I can understand the point he makes. He cannot appear, and should not be, discriminatory in this matter. I have a local concern that Endesa can get up and running. The broader issue is competition in the electricity generating market and in this respect it is highly desirable that Endesa is up and running. I appreciate what the Minister said about companies making commercial decisions and bearing the consequences of those decisions. If some of the factors used in modelling the internal rate of return or if its assumptions turn out to be inaccurate, the company carries responsibility for that. One would like to see that happen in the banking sector but I am conscious of the overall consequences for the economy if we took that line. As a principle, I cannot disagree with the Minister and the points he made. Is there another way of belling the cat in order to ensure a company that has made a specific commitment in terms of capital investment and in being a participant in the energy market is not going to be deterred or disadvantaged seriously because of the manner in which this is being applied? Can the Minister see how we can ensure we have an additional player in the electricity generating market?

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