Róisín Shortall
Question:39 Ms Shortall asked the Minister for Public Enterprise if she favours the privatisation of Bord Gáis; and if she will make a statement on the matter. [24140/01]
Written Answers. - Bord Gáis Privatisation.
For privatisation of Bord Gáis to take place it would be desirable to have put in place an independent statutory regulatory regime for the gas industry, and would be necessary to convert the company to plc status.
A Bill to transfer the gas regulatory functions of the Minister to the Commission for Electricity Regulation is before the Oireachtas. Plc legislation is unlikely to be achieved in the life of this Dáil.
Against this background I am considering the board submission on their future strategy and funding, which favours an IPO as a best approach in meeting future investment requirements. In light of the present position regarding the legislative programme, I have asked the board to consider other means of meeting their current financial and commercial needs.