The chair of the State-owned broadcaster and energy company is moving from the challenge of justifying enormous profits to that of plugging large losses.
Through Electric Ireland, the ESB is firing out huge electricity bills to households. Yet in the first half of the year, it made €390m. How does the ESB make money, and how does it justify rising bills?
The state-owned utility needs to work with the wider industry if Ireland is to keep the lights on while respecting its climate obligations. CEO Paddy Hayes answers The Currency's questions on finance and grid connections.
From ending coal use to promoting offshore wind energy, integrating hydrogen fuel and channelling investment to the west coast, last week’s ESB announcement ticks all the boxes. It also hopefully marks a new departure from piecemeal policy.
Following its IPO in London last at the start of the year, eEnergy plans acquisitions to expand beyond lighting into the growing sector of energy efficiency as a service – taking costly green equipment off customers’ balance sheets.
In the coming days, the government will unveil the rules of the first renewable electricity support scheme in five years. Overseas capital is lining up to fund Irish environmental projects with billions of euro in energy, waste and forestry.
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