Privatisation of the ESB looks to have been taken off the agenda after the ESB board announced today that it did not feel the conditions for a successful change of ownership prevailed at the current time.
The board said unions and management must pursue with real urgency a programme to prepare the company for the rapidly developing competitive market.
No time frame was put on the postponement, but Paddy Reilly, head of the ESB union group, welcomed today's decision as delaying privatisation for the foreseeable future.
ESB management said they supported the board's decision and were fully committed to working with the unions.
