ESB needs overseas markets, renewables

Ireland's Electricity Supply Board must develop in Britain if it is to continue successfully, according to the man who runs the state-owned company's overseas arm.

Michael McNicholas, of ESB International – the company that supplies electricity and management for traditional and renewable energy overseas – told the Irish Examiner that the company must make inroads into UK energy markets.

Ireland and Britain’s electricity markets are to become united over the next decade.

ESBI has 5% of the dual market, but is aiming for at least 30%.

Mr McNicholas said: “It is very critical that we get some scale in Britain.”

He also noted that the company was looking into developing renewables further.

“They are not all going to work, but it’s my job to have them as a significant part of the business in twenty years time,” he said.

Under EU rules, 20% of the bloc’s electricity must come from renewable sources by 2020.

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