Sir, -While all European governments are bending the rulers to position their state-owned utilities for success in the newly deregulated power market, Ireland has just put the noose around the ESB's neck. The decision not to allow the ESB to bid for the G8 group of power plants in Poland is undoubtedly a disaster for the utility. Without the ability to grow within Europe, the ESB can at best hope for 60 per cent of the tiny home market, competing against strong US and European market players.
Such decisions as this should not be left to bureaucrats. The Government has a responsibility to ensure that such decisions are in our long-term interest. The experiences with Telecom Eireann, Aer Lingus and now the ESB all make it clear that Ireland's assets are being destroyed without accountability. -Yours, etc.,
Thomas M. Howley, Energy derivatives Trader, Hamburg, Germany.