Thomas P. Broughan
Ceist:37 Mr. Broughan asked the Minister for Public Enterprise if she favours the privatisation of Bord Gáis; and if she will make a statement on the matter. [18058/01]
Written Answers. - Bord Gáis Éireann.
For privatisation of Bord Gáis to take place it would be highly desirable to have put in place an independent statutory regulatory regime for the gas industry and necessary to have converted the company to plc status. A Bill to transfer the gas regulatory functions of the Minister to the Commission for Electricity Regulation, which is to be renamed, will be published shortly. Plc legislation will not be ready until next year.
Against this background I am considering the recent submission from the board which favours an IPO and I have asked the board to also consider other means of meeting its capital requirements which are very significant for this year and next.