Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
It has been announced that Kilroot Power station near Carrickfergus, County Antrim is set to close. The decision is set to result in the loss of 240 jobs (120 AES staff and 120 contractors) and comes after the plant failed to win a contract to supply the all-island Single Electricity Market. The owners of Kilroot, AES commented that without the contract, the plant can no longer continue to operate. The timeframe for the closure has yet to be announced, but it is expected to occur when the new electricity supply contracts come into force in May 2018.
Updated 09/11/2018: It has been announced that the intended closure of the Kilroot Power Station will not be going ahead, as previously disclosed. The station has secured a further one year contract which will result in the saving of 170 jobs. However, 85 jobs will be cut at AES's sister plant at Islandmagee.
Eurofound (2018), AES, Closure in United Kingdom, factsheet number 93134, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93134.