ESB - Down at the ranch!

Bogus

I'm surprised that nobody has mentioned the report on the ESB that was released yesterday, saying that electricity prices in Ireland are 51% higher than anywhere else in Europe, not to mention the average "relevant" wage being €92000. It also stated that inefficiences etc added €100 million to the overheads.

So, does this mean we're shelling out huge wads of our hard-earned cash so that a group of incompetents can carry on being incompetent. No wonder the government is hesitant in privatising the ESB. Whoever takes it on will have a hard job getting half of them to take a pay-cut at the same time that the rest of them get made redundant.

Bogus

Well Bogus. It looks like you and me are the only ones interested . Every other ESB customer must be well pleased with the bargain they’re getting. They’ll be even happier soon, because the nice man in charge of the ESB is going to see that our electricity costs come down when the contracted oil prices fall. I’m looking forward to that. How about you Bogus? Oh yes, me too Bogus, but it’ll be the first time that the ESB has reduced anything (apart from the number of it’s shops).

RoundyMooney

It seems that 48 people have seen fit to read this twaddle, and not reply. Arguably, that's all it deserves, however if even one of the 48 take any little part of this rant as gospel, then it shouldn't stand unchallenged.

Anyway.

Bogus wrote:

I'm surprised that nobody has mentioned the report on the ESB that was released yesterday...

Link please, if you wish to throw this up to more analysis than you yourself gave it.

Bogus wrote:

...saying that electricity prices in Ireland are 51% higher than anywhere else in Europe...

I cannot find substantiated proof of this anywhere. It is as questionable as the following figure of yours I quote, below. Irish electricity prices were held at an artificial low for many years, as a result of governmental price control. Additionally, all price increases have to be ratified by the Commission for Energy Regulation (CER). As well as undergoing massive rationalisation, ESB has committed itself to a very costly and long overdue Network Renewal Program which is still ongoing and represents a large capital contribution. Unlike such august institutions as AIB bank, which received a gigantic cash inection from the exchequer in the Eighties, in order to keep itself in business, ESB is financing this investment itself, as well as coping with unprecedented demands for supply. ESB itself has had to undergo massive change, at its own expense, in not only preparing for a open electricity market, but effectively subsidising its potential competitors too.

Bogus wrote:

...not to mention the average "relevant" wage being €92000. It also stated that inefficiences etc added €100 million to the overheads.

What a wonderful work of fiction this report must be! €92k a head! I'm in a senior technical position in an ESB business unit, and my managing director doesn't make that. Shall I let him know?

What inefficiencies are you parroting? The ESB organisation of today is not that of say, pre 1992, when it indeed was an inefficient fund swallowing behemoth. Those days are long gone. Look at Aer Lingus and Waterford Crystal, if you must, for proof that the dark days of unionised lay-abouting are long gone for many Irish companies.

Bogus wrote:

So, does this mean we're shelling out huge wads of our hard-earned cash so that a group of incompetents can carry on being incompetent. No wonder the government is hesitant in privatising the ESB. Whoever takes it on will have a hard job getting half of them to take a pay-cut at the same time that the rest of them get made redundant.

And how, pray tell, is the ESB group incompetent in its role as,

(a) Distribution System Operator (DSO): ensuring that the network is maintained and managed, and that new subscribers are catered for?

(b) Electricity Supplier: The business of selling electricity, in a nutshell?

(c) An organisation, which although restricted to a great degree by market opening regulations, still manages to be a viable commercial entity. An organisation which employs some of the highest skilled staff, both at home and abroad?

You'd like to see thousands made redundant would you? Idiot.

:mad:

Ruu_Old

Hehe, this story from rte.ie might be of some hope or interest.

ESB chief executive Padraig McManus has said that if fuel prices continue to fall, the benefit will be passed on to the consumer.

Speaking at a meeting of the Dáil's committee on communications, marine and natural resources, the ESB boss said he could not say when exactly any reductions would be passed on, but it was unlikely to happen within the next three months due to existing contracts for fuel.

Last month, the Commission for Energy Regulation has sanctioned a 19.7% average increase in the price of electricity from January 1, blaming higher oil and gas costs.

parsi

Bogus wrote:

not to mention the average "relevant" wage being €92000. It also stated that inefficiences etc added €100 million to the overheads.

Why do people always quote the average wage as if for some reason ordinary workers aren't allowed to earn money ? The examiner did a similar hatchet job recently and it was quoting the average wage (can't recall the industry) and you're there thinking is it some sort of begrudgery..

RoundyMooney

Sensationalism, my friend.

I would love to know where they get their figures, though.

Maybe Bogus can enlighten us.

deman

Bogus wrote:

I'm surprised that nobody has mentioned the report on the ESB that was released yesterday, saying that electricity prices in Ireland are 51% higher than anywhere else in Europe, not to mention the average "relevant" wage being €92000. It also stated that inefficiences etc added €100 million to the overheads.

So, does this mean we're shelling out huge wads of our hard-earned cash so that a group of incompetents can carry on being incompetent. No wonder the government is hesitant in privatising the ESB. Whoever takes it on will have a hard job getting half of them to take a pay-cut at the same time that the rest of them get made redundant.

Where exactly did you get this information?

OK, I know this piece is 3 months old but....
http://www.finfacts.com/irelandbusinessnews/publish/article_10006575.shtml