asked the Minister for Industry and Energy in relation to the advances made or guaranteed by the State in respect of the ESB peat-fired power stations if he will give details of the amount of the loan and the dates and length of it; the rate of interest and the annual loan charge for each station or the apportionment for each station, where appropriate, in relation to the construction of the station or if he will identify any publication, report or document where the particulars are available; and if he will give similar information in respect of the renewal of equipment.
Written Answers. - ESB Loans.
322.
Unfortunately, it is not possible to give the information in the form sought by the Deputy.
In the initial years of the peat-fired power station programme construction was financed by advances from the State and from the ESB's internal resources. Since 1955-56 the board's capital programme has been financed by internal resources, stock issues, suppliers' credits and other State guaranteed borrowings.
Over the years, expenditures have been undertaken by the ESB, from the total capital funds available to them from all sources, on power stations, transmissions and distribution facilities, working capital etc. While it would be feasible to ascertain the total capital expenditure incurred on particular projects, it would not be possible to say what portion of that expenditure was covered by individual borrowings. These borrowings are not, I am informed, apportioned on a project-by-project basis.
The total of State advances since 1946, when the peat programme started, was £54.8 million, at interest rates varying from 2½ per cent to 6¼ per cent per annum. State guaranteed borrowings and credits, raised since 1955-56, for the ESB general capital programmes have been at interest rates varying from 5 per cent to 13 per cent nominal; many of these borrowings have since been repaid or otherwise redeemed and the balance outstanding at 31 March 1983 is £946.4 million. Over the period involved, the amount of capital expenditure financed from internal resources ranged from 20 per cent to 40 per cent of total.