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Power Generation & Supply Customer Supply & Group Services Irish Congress of Trade Unions ESB and ‘Green Jobs’ Padraig McManus ESB Chief Executive.

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Presentation on theme: "Power Generation & Supply Customer Supply & Group Services Irish Congress of Trade Unions ESB and ‘Green Jobs’ Padraig McManus ESB Chief Executive."— Presentation transcript:

1 Power Generation & Supply Customer Supply & Group Services Irish Congress of Trade Unions ESB and ‘Green Jobs’ Padraig McManus ESB Chief Executive

2 Power Generation & Supply Customer Supply & Group Services From Financial Market Turmoil to Global Recession Market and Liquidity RisksEmployment  Worst since 1930’s  No Region Spared

3 Power Generation & Supply Customer Supply & Group Services Major Changes for Ireland Source: Dpt of Finance, Pre-Budget Outlook, Nov 2009 Projected GDP Growth 2008 From 2nd highest EU GDP per capita to -3% 2009 Severe GDP Contraction 2010 Further contraction, recovery in trading partners 2011 Recovery  Focus on competitiveness and costs now required

4 Power Generation & Supply Customer Supply & Group Services Impact on the Power Sector  Global electricity demand  European final power consumption  Power Generation H1 2009 RWE Power (Ger): -40% RWE Npower (UK): -31.4% Vattenfall (Nordic): -7.1% Endesa (Spain): -17%

5 Power Generation & Supply Customer Supply & Group Services Outlook for ESB Major Glut in UK & European Gas PricesSignificant Change in Market Demand – Generation Adequacy Report Cumulative CPI (2007 base) Networks Impact Demand, market and inflation all reduced which Impacts ESB profitability

6 Power Generation & Supply Customer Supply & Group Services 2008 Strategic Framework

7 Power Generation & Supply Customer Supply & Group Services Delivering on Smart Networks ESB Integrated Network Strategy Applied research Partnership Ireland as centre of excellence Sustainable employment

8 Power Generation & Supply Customer Supply & Group Services Eco-Investment Fund (Novus Modus)  New €200m Investment Fund for Energy Innovation  Positioning ESB as a smart-tech Utility for the future  ESB investments will drive employment in this sector Renewable generation Clean energy technologies Renewable services and logistics Low carbon and energy efficiency

9 Power Generation & Supply Customer Supply & Group Services ESB Stimulus to the Economy 2009-2013  3,700 new external jobs  Sustain 1,300 internal jobs  Deliver the Smart Networks Infrastructure  800 apprentices and 300 graduates

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