asked the Minister for Industry and Commerce if he will state the effect of increasing from 2½ per cent. to 3¼ per cent. the rate of interest on Exchequer advances to the Electricity Supply Board on the capital subsidy required for the rural electrification scheme.
Ceisteanna—Questions. Oral Answers. - Interest on Electricity Supply Board Advances.
The effect on the capital subsidy required for the rural electrification scheme of the increase in the rate of interest from 2½ per cent. to 3¼ per cent. on Exchequer advances to the Electricity Supply Board will be to reduce the rate of subsidy required by something between 2½ per cent. and 5 per cent., depending on the overall fixed charge revenue achieved.
asked the Minister for Industry and Commerce if he will state whether the higher rate of interest on Exchequer advances to the Electricity Supply Board now in operation will apply to advances for the completion of generating stations under construction; and, if so, whether he will indicate the effect in each case on the estimated cost per unit of generating electricity.
The higher rate of interest on Exchequer advances to the Electricity Supply Board now in operation will apply to all advances made as and from the 5th May, 1948. It is estimated that the effect of the increased rate of interest on the projects at present in course of completion will be to increase the estimated cost per unit of generating electricity by the following percentages:—
|
Portarlington and Allen wood Stations |
1 per cent. |
|
Erne |
6 per cent. |
|
Leixlip |
5 per cent. |