It is expected that the Shannon could rise up to half a meter over the coming days, with severe rain also expected.
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The Irish Red Cross is setting up emergency drinking water distribution points in three areas worst hit.
The Irish Defence Forces have deployed personnel, air assets and transport assets to the west and midlands to help people affected by the floods.
It is as more heavy rain is forecast for the area.
The ESB have confirmed that the level of water flow is likely to lead to flooding of roads, land and property in the vicinity of the Shannon downstream of Parteen Weir including the areas of Springfield, Montpellier, Castle Connell, Mountshannon (Annacotty) and the University of Limerick.
Met Éireann has issued two Status Yellow weather warnings for today, the lowest level alert.
The Republic’s National Emergency Co-Ordination Centre has also warned that rising water levels along the Shannon are resulting in a high risk of flooding along the river from Athlone, Co Westmeath, right down to Limerick city.
Bottled water will be distributed today and tomorrow in Athlone, Portumna and Montpelier in Co Limerick.
A number of properties in the Springfield area of Clonlara in southeast Clare have been flooded.
The ESB yesterday increased the release rate of water from Parteen weir to 375,000 litres a second, with a further increase rate expected on Wednesday.
Thousands of acres of farmland and several homes are now surrounded and submerged in water.
Iarnrod Eireann said the Sligo line from Carrick-on-Shannon to Longford would remain closed until the weekend at the earliest due to flooding with the water about a foot over the track.
In a statement, the ESB has said it will continue to monitor the levels in Lough Derg and with more bad weather on the way, the level of water flowing down the river may increase in the coming days.
“Council staff, assisted by members of the defence forces, are continuing to implement flood defence measures along the river bank and coordinate with local property owners”, the council said.
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In C lonlara, Co Clare, 15 troop s were supporting local efforts, while 30 had been dispatched to Castleconnell, another 12 in B allinasloe, Co Galway, and 35 in Athlone, with others put on notice in Donegal, Galway, Limerick and Cork.
