EirGrid underlying profits stood at €23.2m in 2025

Investment of €18.9bn has been provided by Government to EirGrid and ESB Networks over the next five years

EirGrid representatives onboard the cable laying vessel Calypso. Eirgrid said construction of the Celtic Interconnector has now seen 84km of submarine cable laid in Irish waters.

Electricity grid operator EirGrid will pay the Government a €4m dividend after announcing underlying profits of €23.2m in its 2025 annual report, published on Monday.

Gross profits surged from €9.8m to €429m for the period  from October 1, 2024 to September 30, 2025. The surge in gross profit was mainly due to regulatory timing differences, including the recovery of revenues for costs recognised in previous years, as well as over-recoveries to be returned in future tariffs. It also included the release of a grant of €151m.

Underlying profit stood at €23.2m, compared to €25.6m the previous year, the 2025 annual report said. An investment package of up to €18.9bn has been provided by Government to EirGrid and ESB Networks over the next five years.

Eirgrid launched its new group corporate strategy in Cork last week. 

EirGrid is responsible for upgrades to Ireland’s transmission system, spending €37.8m during the financial year. Over the year to September 2025, 394MW of new renewable projects were connected to the transmission system, including 180MW of solar, 151MW of wind, and 63MW of storage. In total, 28 projects were energised with 40 project agreements were reached.

“Over the course of 2024-25, important progress on planning and construction of necessary grid infrastructure continued at pace, while we built our capacity and capability at EirGrid to deliver over the coming years," said EirGrid Group chair Brendan Tuohy.

The Government has provided €2bn equity commitment for the development of offshore transmission infrastructure. Eirgrid said construction of the Celtic Interconnector, being developed with the French TSO RTÉ, has now seen 84km of submarine cable laid in Irish waters. Meanwhile South Coast Marine Surveys Commenced for Powering up Offshore South Coast, which will deliver new transmission grid infrastructure necessary to bring power generated by offshore windfarms from Ireland's south coast into our national grid. 

“The coming years will be decisive. As Ireland’s economy and society transition increasingly to electricity for heat, transport, enterprise and other energy needs, future economic and social development will depend critically on a strong, resilient electricity system," said Mr Tuohy.