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Irish Congress of Trade Unions ESB and ‘Green Jobs’

Irish Congress of Trade Unions ESB and ‘Green Jobs’. Padraig McManus ESB Chief Executive. From Financial Market Turmoil to Global Recession. Market and Liquidity Risks. Employment. Worst since 1930’s. No Region Spared. Major Changes for Ireland. 2008. Projected GDP Growth.

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Irish Congress of Trade Unions ESB and ‘Green Jobs’

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  1. Irish Congress of Trade UnionsESB and ‘Green Jobs’ Padraig McManusESB Chief Executive

  2. From Financial Market Turmoil to Global Recession Market and Liquidity Risks Employment • Worst since 1930’s • No Region Spared

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

  4. 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. Outlook for ESB Major Glut in UK & European Gas Prices Significant Change in Market Demand – Generation Adequacy Report Cumulative CPI (2007 base) Networks Impact Demand, market and inflation all reduced which Impacts ESB profitability

  6. 2008 Strategic Framework

  7. Delivering on Smart Networks ESB Integrated Network Strategy Applied research Partnership Sustainable employment Ireland as centre of excellence

  8. 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. 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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