New Economy and Recovery Authority (NewERA) provides financial and commercial advice to Government Ministers and Departments in relation to their shareholdings in 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 designated to NewERA are as follows: AirNav Ireland, An Post, Bord na Móna, CIÉ (including Bus Átha Cliath, Bus Éireann and Iarnród Éireann), Coillte, daa, Dublin Port Company, EirGrid, Ervia (including Gas Networks Ireland), ESB, Irish Aviation Authority, Port of Cork Company, Port of Waterford, RTÉ, Shannon Foynes Port Company, Shannon Airport Group, TG4, Uisce Éireann and Vhi (these companies are collectively referred to as the “Designated Bodies”). NewERA also provides, by agreement, ongoing financial and commercial advice to relevant Ministers and Departments in relation to the Land Development Agency (LDA).
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 may work 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 companies can be found here.
NewERA is led by Andrew O’Flanagan, Director of NewERA and the National Development Finance Agency. Andrew is also a member of the NTMA Executive Management Team. The NewERA team comprises of approximately 30 staff, who have a mix of accounting, actuarial, commercial, economics and financial expertise.