Under legislation New Economy and Recovery Authority (NewERA) has specific responsibility to provide financial and commercial advice to Government Ministers in relation to leading State companies in the energy, water, postal and forestry sectors. These companies are An Post, Bord na Móna, Coillte, EirGrid plc, Ervia (including Gas Networks Ireland), Irish Water and ESB (these companies are collectively referred to as the “Designated Bodies”). Following agreement with the Department of Transport, Tourism and Sport (“DTTAS”), NewERA also provides ongoing financial and commercial advice in relation to CIÉ, daa plc, Dublin Port Company, Irish Aviation Authority, Port of Cork Company, Shannon Foynes Port Company and Shannon Group plc.
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 energy, telecommunications, water, forestry and postal services, to support economic activity and employment. For more information on NewERA’s activities, please see the NewERA section of the NTMA Annual Report 2019.
NewERA’s annual financial review of the State-owned entities can be found here
NewERA has 23 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