asked the Minister for Industry and Commerce whether his attention has been directed to the statement of the chairman of the E.S.B. that it was hoped that at some time the board would be able to finance its own development; if so, whether it is proposed that electricity consumers should pay more in order to finance such development; and whether he will make a statement.
Ceisteanna—Questions. Oral Answers. - E.S.B. Development.
I have seen the statement referred to. So far as I am aware, no increase in electricity prices is contemplated and accordingly the last part of the Deputy's question does not arise.
In view of the fact that this is a new development as far as the E.S.B. is concerned, would the Minister indicate whether he is aware of the methods which the board will employ to finance any future development, whether he has been consulted in the matter and what views he has conveyed to the board?
I do not think there is any new development. The board has normally financed a substantial part of its development from its own resources, by reinvestment of depreciation funds, and so on, and I do not think anything further was intended by the chairman's statement.
Does the Minister say nothing more was contemplated by the chairman's statement than the continuance of the policy in so far as the financing of its activities is concerned?
I am not aware that any increase in electricity prices is contemplated anyway.
Am I to take it that, as far as the future financing of the board is concerned, all that was intended by the chairman in his speech was to indicate that the policy pursued in the past, namely of using its own funds for reinvestment in its own development, will be continued?
I am not going to interpret the chairman's speech any further than that.
Has the Minister been consulted as to the type of any new method of financing?
I expect to be.
Has the Minister not been consulted so far?
No.
We can come back to that again.