Lower electricity prices hits profits at Indaver Ireland

New accounts filed by Indaver Ireland Ltd show that the company recorded the drop in profits as revenues rose by 16% from €121.64m to €140.98m

An artists' impression of the planned Indaver Ringaskiddy incinerator project.

A decrease in electricity prices last year contributed to pre-tax profits at waste processing and power generation firm, Indaver Ireland reducing by 19% to €26.68m.

The Belgian-owned Indaver Ireland operates an incinerator at Duleek, Co Meath, that produces enough electricity each year to power the equivalent of Drogheda and Navan combined.