Ossian Smyth (Dún Laoghaire, Green Party) | Oireachtas source

I thank the Senator. A commercial semi-State body is charged with two things. The first is performing its functions that deliver on its strategic mandate, whatever that is. The second is trying to make a certain amount of money which is then used by the State to provide services to its citizens. In advance of the year, expectations are set by the shareholder - the State - saying how much money is expected to be made during the year and how much will be returned as dividend. That is not known beforehand because if it were known it could be of advantage to somebody who is competing with that commercial semi-State organisation. In other words, it could reduce the commercial success of the company. At the end of the year it becomes known because the accounts of the company are published. In this way, we discover what dividend was paid out. Every year we can be read in the newspapers how much money ESB Networks paid in dividends to the State and what the return on investment is. It is not like it is some kind of secret that is preserved forever. Again, its commercial mandate is only a small portion of its mandate. It already has its strategic mandate and it has its legal mandate under the climate legislation.