The ESB says it accepts the deal brokered by the Labour Relations Commission (LRC) to avert a strike. There had been some confusion over the terms of the settlement - reached with the ESB Group of Unions.

The unions say the threat of industrial action at the power company will be removed by lunchtime. The row centred on a €1.6 billion deficit in the company pension fund.

But in the wake of the LRC deal hammered out yesterday following talks over the weekend, confusion arose.

Initially both the ESB management and the Group of Unions accepted the deal, but then the company appeared to question the terms of the settlement to address concerns over the company pension scheme.

However the ESB has issued a statement this morning stating that it accepts the LRC-brokered settlement.

The Energy Minister Pat Rabbitte told Breakfast here on Newstalk the confusion was a hiccup - but says the important thing is there will not be power cuts.

Meanwhile the ESB group of unions is welcoming the clarification by the company that it accepts the settlement. The secretary of the group of unions Brendan Ogle says the ESB statement helps to remove any uncertainty.

And the Finance Minister Michael Noonan has also welcomed the breakthrough, calling it a dispute that nobody wanted.