ESB reports pre-exceptional profit of €298m for first half of the year
Damage from Storm Éowyn in Dublin. Photo: PA.
Storm Éowyn, which battered Ireland in January causing widespread damage, cost the ESB group €100m to reconnect customers and repair power infrastructure.€
It confirmed the scale of the cost in financial results released today for the first half of the year.
The €100m cost was spread across the island between the ESB and its Northern Ireland Electricity Networks subsidiary.
The group said that profits at its ESB Networks unit tumbled €43m to €131m in the first six months of 2025, primarily due to the impact of the storm on its operating expenditure.
Despite all the devastation, the ESB still managed maintain its pre-exceptional profit after tax at €298m, compared to €282m in the first half of 2024.
Its revenue slipped to €3.52bn from €3.72bn.
The performance came as many ESB rivals have recently announced significant energy price hikes. Electric Ireland, the ESB’s consumer arm, is leaving its residential electricity prices unchanged, however, and cutting its gas prices by 4pc.
Th group has also seen the level of investment in infrastructure rise sharply. In the first six months of this year, it spent €1.25bn, compared to €838m in the first six months of 2024.
Today’s News in 90 Seconds – September 16th
Over €700m of the capital investment in the first half of the year relates to investment in electricity network infrastructure to enhance resilience and add capacity for new housing, connect renewable generation and support Ireland’s growing economy, according to the ESB
More than €500m was invested in electricity generation, primarily investment in onshore, offshore and solar renewable energy projects.
“ESB remains committed to further growth in the level of capital investment to ensure a reliable and sustainable electricity system as we transition to net zero carbon emissions,” said ESB group chief financial officer Paul Stapleton.
“Maintaining the financial strength of ESB is critical to fund this investment,” he added.
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