Vol. 554 No. 5
100 Mr. Costello asked the Minister for Communications, Marine and Natural Resources when he expects to introduce legislation to convert both ESB and Bord Gáis to plc status; the reason for the proposed change in the status of the companies; and if he will make a statement on the matter. [17043/02]
Legislation to provide for the conversion of the ESB from its current status as a statutory corporation into a public limited company is expected to be published early in 2003. The provisions will be included in the electricity Bill which will also provide for the remaining regulatory and restructuring issues in relation to the electricity industry and consolidating existing electricity legislation. Legislation to provide for the conversion of BGE from its current status as a statutory corporation into a public limited company is also being prepared, with an expected publication date in mid-2003.
The main purpose for the conversion of status is to give both the ESB and BGE modern company configurations and the same commerical flexibilities as their competitors in their respective liberalised markets.
