EirGrid is a commercial State body operating under the aegis of my Department established under the European Communities (Internal Market in Electricity) Regulations 2000. EirGrid is independent of the Minister in the exercise of its functions but are overseen by the Commission for Regulation of Utilities which is an independent regulator, accountable to a Committee of the Oireachtas.
The promotion of effective governance is a key priority for my Department, as highlighted by Goal 5 of the Department’s Strategy, Le Chéile 28. State bodies must comply with the Code of Practice for the Governance of State Bodies 2016 (the Code). In accordance with the Code, EirGrid provides its annual report and financial statements to my Department which are then presented to Government and laid before the Houses of the Oireachtas.
In addition to formal reporting requirements, my Department hosts quarterly shareholder meetings with EirGrid at which regular updates on operational and financial information are provided. These meetings form a crucial part of the overall governance framework.
There is also regular and ongoing engagement between officials in my Department and EirGrid across all levels regarding its policy and strategy, five-year corporate plans, annual budgets, and biannual/quarterly performance updates.
EirGrid also operate a dedicated email address for Oireachtas members (oireachtas@eirgrid.com) which enables Deputies to raise questions or seek updates, for a timely direct reply.