ESB plans €2bn investment in British energy market

THE ESB is planning to invest up to €2 billion building up a strong presence in the British electricity market over the next decade, according to chief executive Padraig McManus.

Speaking at the opening of the group’s €500 million Marchwood Power plant in Southampton yesterday, Mr McManus said the next decade presented “major opportunities” for the ESB to grow its business before Britain starts to undergo a major shift to nuclear energy over the next 20 years.

The plant is a joint venture with the major British group Scottish and Southern Energy. Marchwood Power is a large scale gas fired power station generating 840mw of gas fired power electricity to supply the needs of Southampton, the New Forest and Winchester.