Government has not considered how “fire sale of state asset will negatively affect employees or consumers”   – Senator Mullen   Speaking today during the Seanad debate on the Gas Regulation Bill 2013, Independent Senator and European Election Candidate Rónán Mullen requested the Government’s assurance that none of Bord Gáis Energy’s debts would be loaded onto the taxpayer. “Original estimates for the valuation of Bord Gáis pegged it at €1.4 billion, including debt. My concern is that with offers from lead bidders such as Centrica and Viridian appear to be substantially lower than anticipated. The Government may be tempted to sell Bord Gais without its debt so the fat cats gain and the Irish people loose. So we will sell the boiler and all the debt goes into the pipes and the consumer ends up having to pay for the pleasure of helping the bidders buy a company with no debt. It is a dismal picture, while these investors looking to turn a quick buck, garner profit and exit the market  the company and subsequently the taxpayer with will be left with the debt.” “This would not be the first time a reckless deal of a state asset has taken … Continue reading Mullen asks for reassurance that gas company debts won’t be loaded onto taxpayer