InShort

A round-up of today's other business stories in brief.

State would need to 'plan now' if it wanted nuclear plant by 2020

The State would have to start planning to build a nuclear energy plant immediately if it wanted one operating by 2020, Tom Reeves, chairman of the Commission for Energy Regulation (CER), has told the joint Oireachtas Committee on Economic Regulatory Affairs.

However, he said the commission was prohibited by law from authorising the construction of a nuclear station and any decision to authorise nuclear power would have to be sanctioned by the Dáil.

Responding to questions on the need for a debate on nuclear energy and the role the CER would play, he said: "We have no statutory function in that regard. That is a matter of policy for the Minister [ for Energy]. We do not decide policy."

Software firm on trial for fraud

A liquidated software company has gone on trial in Dublin charged with defrauding the Revenue Commissioners.

Big Picture Software Ltd went into liquidation in 2004 and owes the Revenue more than €265,000 in outstanding VAT returns, the jury was told.

Meanwhile, a husband and wife each received a three-month suspended sentence at Wexford District Court yesterday after pleading guilty to multiple Revenue offences. Gerard and Breda O'Connor, Ballycrystal, Bunclody, Co Wexford, had earlier settled with the Revenue for €341,000.

Imera Power wins cable deals

Imera Power has won licences to build two cables connecting the British and French power grids.

The UK energy regulator granted an electricity interconnector licence to Dublin-based unit Imera Hydragrid Ltd to connect Chickerell, southwest England, with Manuel, northern France.

A second licence was granted for a cable linking Cornwall with Brittany.

Imera is 30 per cent-owned by its Irish-based management and 70 per cent-controlled by Norwegian firm Oceanteam, which specialises in undersea work such as cable laying.

Minco subsidiary raises finance FL Partners

Minco, the IEX-listed exploration group, has said its Canadian subsidiary, Orca Minerals, has raised Can$3 million (€1.88 million) in finance for the development of its Mexican mineral projects.

In an article in yesterday's edition, Peter Crowley, one of the principals of FL Partners, was incorrectly named as Kevin Crowley.