Once the sale of its energy business is complete, Bord Gáis Eireann will be responsible for all gas networks and water and waste water infrastructure in the country.
The company will be restructured into a multi-utility commercial semi-state with responsibility for delivering strategic national infrastructure to support the growth of the Irish Economy. A new Gas Networks subsidiary will be created to sit alongside Irish Water in a Group structure. Both the Networks business and Irish Water will be retained in State ownership.
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It is expected that the sale of Bord Gáis Energy, including the "Bord Gáis" brand, will be completed in 2014. The strategic gas networks business will be re-branded as "Gas Networks Ireland" (or Gréasán Gáis Éireann) and will sit beside the newly established Irish Water business in a group company under the new corporate name of Ervia. This name has been chosen by the company to reflect its role as the parent of two significant Irish infrastructure and services businesses. The Government's advisers NewERA are currently studying options for the longer term corporate structure of Bord Gáis Networks and Irish Water and will make recommendations to the Government next year.
(CD/JP)
