The government has abandoned plan to sell a minority stake in the integrated ESB.
The announcement has come as part of the plans for the sale of State assets.
The move is part of the terms of our bailout programme and was agreed by Cabinet last night.
It will also see the sale of the energy business of Bord Gais Eireann.
However this will not include transmission, distribution or two inter-connector systems.
Some of the non-strategic power generation capacity of the ESB is also to be sold.
The government says it will consider the sale of non-land assets of Coillte as well as a stake in Aer Lingus when the price is right.
It is hoped €3 billion will be raised from the asset sale.
€1 billion of those proceeds will be available for re-investment in the economy.
Public Expenditure and Reform Minister Brendan Howlin outlines the plan.
