Press release

Statement following ESB Board meeting

19th April 2007: The ESB Board met today (Thursday 19th April) to discuss the implications for the company of the government's recently published White Paper, Delivering a Sustainable Energy Future for Ireland.

The Board welcomes the publication of an energy policy and looks forward to helping to achieve the ambitious targets set for renewables, as well as implementing critical strategies relating to the single electricity market, greater north-south and east-west interconnection, fuel diversity and increased competition in the market.

It supports any policy that has the effect of delivering a safe, secure electricity supply at the most reasonable possible cost to the customer.

ESB Board notes that the white paper is a complex and detailed document, containing proposals that have potentially major implications for the company.

A number of these proposals require further exploration. In order to fully inform itself of the extent and impact of these proposals, the Board is seeking additional information clarifying how some of the proposed new arrangements might influence the value and commercial viability of ESB.

The Board is in full agreement with the Government's policy of partnership. It looks forward to further discussions with the shareholders and the Commission for Energy Regulation to thoroughly investigate all aspects of the white paper.

Any further comment is predicated on deeper analysis of the white paper's impact on the company and would be entirely inappropriate until that process is complete. The board intends to hold a special meeting in May to consider these matters in full.

Ends

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Press contacts

Press Office
t: +353 1 676 5831

Public Affairs Manager

Maol Muire Tynan
t: + 353 1 702 7309
e: maolmuire.tynan@esb.ie

Press Officers

Sinead Bruton
t: + 353 1 702 7570
e: sinead.bruton@esb.ie

Kieran O'Neill
t: + 353 1 702 6193
e: kieran.oneill@esb.ie