New Economy and Recovery Authority
In September 2011 the Government announced the establishment of NewERA, initially on a non-statutory basis, within the NTMA. The core role of NewERA involves the oversight of the financial performance, corporate strategy, capital and investment plans of the five commercial semi-state companies within its remit – ESB, Bord Gáis Éireann, EirGrid, Bord na Móna and Coillte – and working with stakeholders to develop and structure proposals for investment in energy, broadband and water to support economic activity. NewERA’s role also involves, where requested, advising on the disposal or restructuring of State assets.
In June 2013 the Government announced legislative proposals for putting NewERA on a statutory basis.
Protocol on meetings with market participants / advisers in the context of the Government’s announcement on the disposal of State Assets
NewERA has issued a Protocol (27.2 KB, PDF format) setting out the procedure and policy for engagement with market participants and advisers in the context of the potential disposal of State assets.
This Protocol, which has been approved by the Minister for Public Expenditure and Reform, applies to requests for meetings with officials of NewERA and/or any Government Department, including advisers to Departments or Ministers, from
- banking, financial, legal, PR, management consulting or any other kind of professional services companies; and/or
- any individual or organisation that is, or which represents, a potential bidder.