Dáil Éireann debate -
Wednesday, 10 Feb 1993

Vol. 425 No. 7

Written Answers. - Gas Interconnector.

Peter Barry

Question:

411 Mr. Barry asked the Minister for Transport, Energy and Communications the way in which it is proposed to finance and pay for the new gas inter-connector link between this country and Scotland; whether Bord Gáis will be expected to pay for it out of their own profits; if it will mean an increase to the consumer in the price of gas; and if he will make a statement on the matter.

Minister for Transport, Energy and Communications (Mr. Cowen)

The estimated cost of the gas interconnector to the UK is £287 million. The project is being grant-aided by the European Commission, at 35 per cent of approved cost, from its REGEN initiative. The remainder of the cost will be met by Bord Gáis Éireann from its own resources, including borrowings. It is not expected that the capital cost of the pipeline will cause an increase in price to the consumer.