Thomas Gould
Ceist:161. Deputy Thomas Gould asked the Minister for Climate, Energy and the Environment whether State-owned electricity companies are required to report gross profit percentages or sums to him. [14263/26]
Amharc ar fhreagraTuesday, 24 February 2026
Ceisteanna (161)
Freagraí scríofa
Bord na Móna (BnM), Eirgrid and ESB are State-owned electricity-related companies under the aegis of my Department. While companies may choose to present a gross profit figure in their financial statements, it is not a legislative requirement. BnM and EirGrid report their gross profit figures in their publicly available financial accounts each year. ESB does not include a figure for gross profit in their published accounts however, my Department does receive that information, when requested.
The 2016 Code of Practice for the Governance of State Bodies (the Code) defines the Annual Report as “A report detailing the State body’s activities and financial performance during the preceding year. It includes the financial statements and may generally also include reports from those charged with governance (for example, the Chairperson of the Board), a review of the State body’s strategy and performance, information on risk management and governance, alongside other information for stakeholders".
In accordance with the Code, Bord na Móna, Eirgrid and ESB must report on its financial performance. There are also other financial reporting requirements, set out in legislation such as the Companies Act 2014 and adherence to accounting practices such as the International Financial Reporting Standards (IFRS) or FRS 102.
The consideration of the annual report and accounts of bodies under the aegis of my Department is the cornerstone of corporate reporting and provides the State as shareholder with relevant information on financial performance, enabling the promotion of effective governance and aligning with goal 5 of my Department’s Strategy, Le Chéile 28.
In addition to formal reporting requirements my Department hosts quarterly shareholder meetings with all bodies under my Department's aegis, at which regularly updated financial information is provided. These meetings form a crucial part of the overall governance framework.