The Irish State electricity utility ESB  plans to create 3,700 new jobs as part of a stimulus plan based centred on renewable energy. The announcement appears to be a recycling of March 2008 news, when the ESB announced a Strategic Framework to 2020 that would see major company investment in renewable energy, the halving of its carbon emissions within 12 years, and the achievement of carbon net-zero by 2035. Fifty percent of the overall investment package was to be geared towards investments in renewables. €4bn of this would be directly invested in renewable energy projects and €6.5bn will be spent facilitating renewables including smart metering and smart networks.

The ESB, which in recent years has faced some competition, is one of Europe's most expensive electricity producers and the average wage of weekly paid employees in the company, is about double the national industrial average of €32,000. The staff also have shares in the company.

Finfacts 2008 Report: ESB, the Irish State power company, announces investment programme of €22 billion; Plans to be world class renewables company

As part of the scheme, 800 apprentices will be trained over the next five years, including 400 FÁS apprentices who lost their jobs during the recession.

ESB chief executive Pádraig McManus said today that the investment plans would have “no impact on price” for domestic or commercial customers.

McManus told RTÉ radio the jobs would come between now and 2013.

Asked how the ESB would fund the plan, McManus said that in the current climate, utility companies were able to borrow money on international markets. He added that the investment would pay back "handsomely" in the long-term, and would not affect prices for consumers.

The ESB chief also said the company would be creating 550 jobs through a redevelopment of its head office in Dublin. The company is launching a competition for plans to redevelop the site.

He also said in addition to the 3,700 new jobs, the plans will sustain a further 1,300 existing staff posts and involve hiring apprentices and engineers. “Overall the package involves around 6,000 jobs”, he said.

He said by 2013 the company would have created an infrastructure that would allow the industry to grow.

Among the new jobs are 750 jobs smart networks, smart meters (750), electric vehicles (600), wind energy (300), construction, including the redevelopment of the Dublin headquarters (550) and an eco fund (350).

Some 250 engineers and 50 other professionals will be among the new positions.

Another 250 jobs are to be created in the home insulation scheme while 150 people will be recruited in other projects including in telecoms and biomass technology.

The ESB said it will finance 50 apprentices each year for the next four years to allow them complete a third level engineering degree.

Minister for Energy Eamon Ryan said today: “Based on Government policy, one of Ireland’s finest semi-state companies is stepping up to the plate and helping provide the jobs of the future. These plans bring with them thousands of jobs we need at this time.”

“Today we are stimulating the economy, shortening the dole queues and helping the environment at the same time,”said Ryan.

“It is clear evidence of a plan that is working and one that works best when we work together.”

“Energy, and particularly the emergence of new technologies in the renewables area, presents us with the potential for really substantial job-creation in Ireland,”  Pádraig McManus said.

“As a major Irish company, ESB has the will, ability and commitment to take a lead and to invest in viable enterprises and inject energy into the economy,” he added.