Press release

ESB job stimulus measures

16th April 2009: ESB today announced a series of initiatives to create and sustain up to 6,000 jobs and training opportunities in the economy.

Up to 3,700 new jobs will be created outside the company in Ireland, supporting the delivery of ESB's ambitious strategic framework in the following areas:

	New jobs
Smart networks	750
Smart metering	750
Electric vehicles	600
Wind energy	300
Property construction	550
New technologies (Eco Fund)	350
Energy service (home insulation)	250
Others (Telecoms, Biomass, Green Fleet)	150
Total	3,700

In addition, ESB will sustain a further 1300 jobs, also outside the company, by its commitment to the ambitious ongoing investment programme in the company's power generation and networks infrastructure.

ESB will recruit 250 engineers and 50 other professionals. ESB will also train 800 apprentices over the next five years including 400 FAS apprentices who lost their jobs in the recent economic downturn and will now be able to complete their craft training, paid for by ESB.

Specific projects which will result in the new jobs include:

• The roll-out of Smart Metering and the implementation of ESB's Smart Networks Strategy which will lead to 1,500 jobs by 2013.
• Novus Modus (ESB's new energy technology fund) has committed to a five year programme of investment in clean energy and energy efficiency (350 jobs). The fund has just invested €2.5 million in the Cork-based company, Nualight, which is creating up to 60 additional jobs locally.
• Electric vehicles (600 jobs) including the roll-out of the infrastructure to allow electric vehicles to be recharged.
• The redevelopment of ESB's Head Office complex in Dublin which will create 400 construction jobs. An international design competition will be published next week in the European Journal to invite architectural proposals for the development.
• Working with Sustainable Energy Ireland, ESB will offer free home-energy efficiency surveys to 25,000 householders and subsequent support to allow them implement necessary measures.
• In order to alleviate the current severe shortage of electrical engineers, ESB will finance 50 apprentices each year for the next four years to allow them to achieve a third level engineering degree.

Energy Minister Eamon Ryan said that today's announcement was great news for the economy at this crucial time. "Today is the green economy writ large and in action. Based on Government policy, one of Ireland's finest semi-state companies is stepping up to the plate and helping provide the jobs of the future. 3,700 of these jobs are in the new green economy. Government initiatives such as smart meters, smart networks, electric cars, renewable energy, green technology and home insulation are bearing fruit".

"This Government has set a new direction for energy policy in Ireland. Our sustainable energy plans will transform electricity generation, motoring in Ireland and how we heat our homes. These plans bring with them thousands of jobs we need at this time. Today we are stimulating the economy, shortening the dole queues and helping the environment at the same time. It is clear evidence of a plan that is working and one that works best when we work together" he said.

Speaking at ESB Head Quarters today, ESB Chairman, Lochlann Quinn, said the Company is determined to use its resources and strength to help stimulate growth in the economy and to support jobs in Ireland.

"Having set out our strategic framework last year, ESB is pressing ahead with practical initiatives that will assist the economy in a real way in very difficult times. ESB is able to do this because as a utility business we have a long term perspective on investments" he added.

ESB Chief Executive, Padraig McManus, said that job-creation must now be a priority for companies with the capacity to invest.

"Energy, and particularly the emergence of new technologies in the renewables area, presents us with the potential for really substantial job-creation in Ireland. As a major Irish company, ESB has the will, ability and commitment to take a lead and to invest in viable enterprises and inject energy into the economy", he said.

Ends

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