Vol. 488 No. 7
105 Mr. Yates asked the Minister for Public Enterprise the proposals, if any, she has to increase the £120 million ceiling on the investment in ESB International by the ESB parent company; if she will consider increasing this to £600 million; and if she will make a statement on the matter. [7371/98]
With the advent of competition, the ESB's future corporate strategy involves concentration on its core electricity business at home, with the pursuit of profitable opportunities in the electricity sector both in Ireland and internationally.
The current exposure limit on investments by ESB International, unchanged since 1988, is £120 million. My Department and the Department of Finance are considering a proposal to increase this figure to £250 million for the next five years to facilitate ESB International's external investment plans. A decision in the matter will be forthcoming shortly.
