asked the Minister for Industry and Commerce whether he will state what portion of the Shannon Works have been taken over to date by the Electricity Supply Board, the respective amount of liability assumed by the Board for each portion taken over, the rate of interest fixed on the respective amounts, and the total amount of interest paid to date to the Minister for Finance, as prescribed by Section 15 (2) of the Electricity (Supply) Act, 1927.
Ceisteanna—Questions. Oral Answers. - Electricity Supply Board's Operations.
The only portion of the Shannon Works taken over by the Electricity Supply Board is that known as Loop IV., consisting of the 38 Kv. transmission lines on the circuit Dublin-Wexford-Waterford-Maryborough-Dublin, the connected 38 Kv. transformer stations and the temporary transformer station at Inchicore. These works were transferred to the Board on the 25th March last. The precise amount of the liability in respect of the works thus transferred to the Electricity Supply Board and the rate of interest to be charged thereon have not yet been determined. No payments in respect of interest have yet been made by the Board, the period which has elapsed since the transfer of the works being only eleven weeks.
Will the Minister state what period must elapse when these arrangements will be entered into; what period does the Act allow to elapse?
The Deputy ought to be able to read the Act.
My interpretation of the Act from a layman's point of view is that these arrangements should be made immediately.
That is the Deputy's interpretation, at any rate.