Dáil Éireann Debate, Thursday - 5 December 2013
146. Deputy Michael Moynihan asked the Minister for Communications, Energy and Natural Resources if he will outline the costs incurred by his Department, New ERA and Bord Gáis Éireann in preparing Bord Gáis Energy for sale; and if he will make a statement on the matter. [52445/13]
View answerNo additional resources, either internal or external were retained by my Department for the purpose of the Bord Gáis Energy sale process. My Department did not directly engage or incur any expenses in respect of third party services relating to the process as this was undertaken by the NewERA unit of the NTMA. The NTMA is under the aegis of the Minister for Finance. The final details on fees have yet to be worked out, however, I understand that in respect of the Government Steering Group for the transaction, the fees were minimised both by competitive tendering processes and also contractual terms. While the terms of individual contracts are commercially confidential, I am advised that all efforts have been made to keep advisory fees low on the Government side, particularly in the event of a sale not going ahead, with payment amounts being linked to success. Once the fees are finalised, they will be made public. Neither I nor my Department have a role in relation to professional fees paid by commercial State companies.
