ESB, Ireland’s largest electrical utility, issued the statement in a warning to potential bond holders obtained by local media. ESB points out that the surplus will rapidly erode electricity prices -- good news for Irish consumers, but trouble for the energy sector unless it finds new demand to tap.
“Combined with a fall in demand in 2009 and the potential for further reductions in the future, the single electricity market faces the possibility of excess capacity until extra demand materialises, or some existing capacity closes,” ESB says.
Since
