Joe Costello (Dublin Central, Labour)
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Question 111: To ask the Minister for Communications, Marine and Natural Resources the latest Government plans for the ESB, in view of the record €1.2 billion the company has raised for investment in its business; his views on the way in which the company plans to spend this money; if there will be further investment in the national electricity network; and if he will make a statement on the matter. [19893/05]

Noel Dempsey (Meath, Fianna Fail)
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Subject to the statutory ceiling and required sanctions of capital programmes, the management of the finances and borrowings of the ESB are matters for the board. However, I can confirm that the company is engaged in a major network renewal programme involving expenditure of approximately €3.5 billion in the period 2000 to 2004 and it is my understanding that further expenditure of an estimated €3.3 billion is being proposed for this programme for the period 2005 to 2009.

I have engaged consultants to review all aspects of the electricity market and policy will evolve in the context of their report, which is due at the end of the year.