New Economy and Recovery Authority (NewERA) provides financial and commercial advice to Government Ministers and Departments in relation to State companies across a range of sectors. These companies are either designated to NewERA under legislation or NewERA provides advice to the relevant Government Ministers and Departments by agreement. The companies that are designated to NewERA include: An Post, Bord na Móna, CIÉ (including Bus Átha Cliath, Bus Éireann and Iarnród Éireann), Coillte, daa plc, Dublin Port Company, EirGrid plc, Ervia (including Gas Networks Ireland), ESB, Irish Aviation Authority, Irish Water, Port of Cork Company, Port of Waterford, Shannon Foynes Port Company and Shannon Group plc. (these companies are collectively referred to as the “Designated Bodies”). The companies that NewERA provides ongoing financial and commercial advice to relevant Ministers and Departments include the Land Development Agency (LDA), RTÉ and Vhi.
On request by a Government Minister, NewERA also provides financial and commercial advisory services in relation to other State bodies or assets.
In addition, NewERA works with relevant stakeholders to develop proposals for investment in certain sectors, to support economic activity and employment. For more information on NewERA’s activities, please see the NewERA section of the NTMA Annual Report 2022.
NewERA’s annual financial review of the State-owned entities can be found here.
NewERA has 27 full-time staff who have a mix of accounting, actuarial, commercial, economic and financial expertise. The team is led by Andrew O'Flanagan, who is a member of the NTMA senior management team.