The regulator for the electricity industry, Mr Tom Reeves, has advertised for consultants to assist him in preparing the sector for liberalisation. The consultants will be required to advise on the "financial, economic, regulatory, technical, accounting and legal aspects" of implementing liberalisation, said Mr Reeves.

From next year, 28 per cent of the electricity market will be open to competition and Mr Reeves will have the power to authorise new power plants and price changes.

The cost of the consultants, who could be from outside the Republic, is not clear at this stage, but a levy from the industry will be used to pay them.