ESB profits dip on Storm Éowyn impact

Energy group proposes dividend of €149m

ESB crews in Limerick working in the aftermath of Storm Éowyn.  Picture Brendan Gleeson

The ESB reported a a €636m profit for last year, a drop of €70m on 2024 due to the impact of Storm Éowyn, which the energy company said was the most damaging storm ESB has ever experienced.

Publishing its 2025 Annual Report, ESB reported revenues of €6.7bn, down from €7.3bn in 2024. The company carried out a record capital investment of €2.7bn in energy infrastructure, with €4 invested for every €1 of profit after tax earned.

The ESB is recommending a dividend of €149m to stockholders. If approved, 97.7% of this will go to the Irish Exchequer. It would bring the total dividends paid by ESB in the past 10 years to €1.4bn.

Storm Éowyn in January 2025 resulted in more than €95m in costs for ESB, with more than 3,200 crew members deployed in its aftermath.

There were over 38,000 residential connections made by ESB Networks in 2025, up 18% on 2024. It also surpassed more than two million smart meters installed. ESB Group also secured the rights to develop the 900MW Tonn Nua offshore wind project off the coast of Waterford with Ørsted, which is expected to be delivered by 2034.

Paul Stapleton, ESB’s Chief Financial Officer, said: “Our 2025 financial performance has enabled us to deliver a record capital investment of €2.7bn in critical energy infrastructure, while retaining the financial strength to invest at even greater scale in the years ahead.”

In relation to the current energy price crisis related to the conflict in the Middle East, Mr Stapleton said. "Given events internationally, wholesale energy prices have been volatile and remain at higher levels than those seen before the 2022/23 energy crisis. Electric Ireland cut gas prices in 2025 and was able to maintain electricity prices for its 1.1 million residential customers last winter, at a time when many competitors increased theirs."

"We remain very mindful of the burden that continued elevated energy prices place on customers and are committed to doing everything in our power to support them," he said.