Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

I thank Senator Barrett and the House for what happened earlier and acknowledge it. It is very welcome and shows the objectivity we have in debates, which I very much welcome. The Oireachtas has invigilating powers, particularly in respect of the water services plan, and will play a very important role in that. There will be legislation later which will take up some issues relating to the regulatory powers. This will add to the arguments people are making in respect of the transparency of decision-making and how it is arrived at. I refer again to the document on the regulator's website which sets out what it will put into the mix in terms of costs such as the capital and operational expenditure, the assets that are transferred, the value of the assets and outstanding loans and liabilities. It will be a very complex and technical but transparent process which I am happy will help build the confidence we must have in the regulator. I understand how people feel about regulators. I know the damage that was caused to our economy, particularly relating to the banks.

I have every confidence that this process will work. As the year progresses I think there will be reassurance for everyone, including Senators, and most of all, for the consumer who gets the bill and who must be confident that the process is fair. Issues of water poverty and health issues will need to be dealt with in a fair and transparent manner.