Dáil Éireann Debate, Wednesday - 17 June 2026
26. Deputy Paul Lawless asked the Minister for Climate, Energy and the Environment the level of profit made by ESB in recent years; the portion returned to the State versus shareholders; and whether the Government can intervene to reduce profit levels in order to lower electricity costs for ordinary consumers. [46389/26]
Amharc ar fhreagraESB is a State owned body under the aegis of my Department. ESB reports on its financial performance in accordance with Section 7 of the Electricity (Supply) Acts 1927, (as amended) and the 2016 Code of Practice for the Governance of State Bodies.
ESB reports its profit after tax figures in its publicly available financial accounts each year. The State holds a 97.7% share in ESB with the remaining 2.3% held by the Trustee of the Employee Share Ownership Plan (ESOP). ESB’s dividend policy aligns with the minimum 30% dividend target set by DPER in ‘Circular 07/2025 – Dividend policy applying to commercial State bodies’ issued March 2025.
The annual profit after tax figures for ESB over the last four years, along with the breakdown of profit and dividends (State versus ESOP) are as follows:
|
Financial Year |
Profit after Tax |
Total Dividend |
State Dividend |
ESOP |
|
2025 |
€636m |
€149m |
€145.6m |
€3.4m |
|
2024 |
€706m |
€189m |
€184.7m |
€4.3m |
|
2023 |
€868m |
€220m |
€214.9m |
€5.1m |
|
2022 |
€685m |
€259m |
€253m |
€6m |
ESB’s generation and supply businesses are required to operate separately as mandated under European Union energy unbundling directives and given effect in Ireland by competition law and the Electricity Regulation Act 1999, so increased profits from ESB’s generation business cannot be used to offset costs incurred by Electric Ireland. Group profits are invested in critical networks, renewable generation and other important energy infrastructure, as well as used to pay tax and dividends to the Government.
Additionally, the Commission for Regulation of Utilities (CRU) sets price controls that dictate the revenue that ESB can recover from customers for managing the electricity grid. The CRU operates as an independent statutory body, is solely accountable to a Committee of the Oireachtas and makes its regulatory decisions independently.
