Austin Deasy
Ceist:144 Mr. Deasy asked the Minister for Transport, Energy and Communications the estimated cost of the proposed redundancy package for ESB workers; and the way in which the cost of this package, if accepted, will be met. [8103/96]
Written Answers. - ESB Redundancy Cost.
The cost of the voluntary severance package under the cost and competitiveness review (CCR) is estimated by ESB to be around £210 million in present money terms.
The total cost of the CCR is estimated by ESB to be around £260 million over the period 1996 to 1999.
The package will be self-financing to the extent that the savings over the same period are expected to be around £250 million.
From the year 2000 onwards the annual gross savings are projected by ESB at £85 million but some of this will be offset by ongoing annual costs of about £27 million leaving the annual net savings under the cost and competitiveness review at about £58 million per annum.