asked the Minister for Energy if he has reviewed the impact of the new rateable valuations for ESB plant on electricity prices in the context of achieving prices for electricity competitive with Europe.
Ceisteanna—Questions. Oral Answers. - Rates Impact on Electricity Prices.
17.
I am satisfied that the new arrangements for the payment of rates by the ESB will not have any impact on electricity prices.
I am very surprised at the Minister's reply. Has there been an independent assessment of the valuation put by the Department of the Environment on ESB plant? Is he aware that additional funds will be raised this year because of the new valuation and the obligation of the ESB to pay rates? Will that, in the long term, affect electricity prices?
For many years the ESB had a concession which was not available to other State companies. In the context of the Electricity (Amendment) Act, 1988, and the valuation of their property for the purpose of paying rates, the ground has been levelled with other State companies. The ESB, in their programme for the five years commencing in 1985-86, took all these factors into account.
Has the Minister triggered the provision under which the ESB would be paying normal rates rather than a notional valuation to the central Exchequer because the Act provided that they would pay normal rates to the county councils of the areas in which they were located?
I will have to ask the Deputy to await that information.