ESB to release US fundraising details today

The ESB is expected to release details today of the outcome of its fundraising efforts in the United States.

The ESB is expected to release details today of the outcome of its fundraising efforts in the United States.

Close to $1 billion is believed to have been raised, and the money is to be used for upgrades in the company's grid which, according to a recent report by the company, is under threat if improvements are not implemented soon.

The report shows that, on average, only 78 per cent of generating plants are available to produce power at any one time.

In previous years, availability hovered in the mid-80s, but due to the age of many stations this has fallen sharply.

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The report warns that with demand set to rise by up to 4.3 per cent the availability of stations is becoming a key consideration.