EirGrid’s €4m Dividend and Strategic Investments Highlight Energy Transition
Electricity grid operator EirGrid has announced it will pay a €4 million dividend to the Irish Government following the release of its 2025 annual report. The company reported underlying profits of €23.2 million during the financial year ending September 30, 2025.
Gross profits saw a dramatic increase, rising from €9.8 million to €429 million. This surge was primarily driven by regulatory timing differences, including recovering revenues from costs recognised in previous years, plans to return over-recoveries in future tariffs, and the release of a €151 million grant.
Although underlying profits dipped slightly compared to last year’s €25.6 million, the Government has committed an investment package of up to €18.9 billion over the next five years for EirGrid and ESB Networks. These funds will be pivotal in advancing Ireland’s energy infrastructure.
At a recent event in Cork, EirGrid unveiled a new group corporate strategy. The company, responsible for upgrading Ireland’s transmission system, invested €37.8 million in the past year. Additionally, 394MW of new renewable projects were connected to the system, comprising 180MW of solar, 151MW of wind, and 63MW of storage.
“The course of 2024-25 witnessed significant advances in planning and building essential grid infrastructure. Our team at EirGrid is gearing up to meet future challenges head-on,” stated Brendan Tuohy, EirGrid Group chair.
The Government’s €2 billion equity commitment towards offshore transmission infrastructure underscores this ambition. Construction of the Celtic Interconnector, developed alongside France’s RTÉ, has reached a milestone with 84km of submarine cable laid in Irish waters. Marine surveys on the South Coast have also begun, critical for incorporating power from offshore wind farms into Ireland’s national grid.
“The coming years are crucial as Ireland transitions to electricity for various needs. A robust and resilient electricity system is essential for future economic and social development,” Tuohy remarked.
As EirGrid steers these ambitious projects, Ireland’s energy landscape continues to evolve in alignment with national sustainability goals. The developments are not just technical achievements but also a necessary step for Ireland as it navigates its energy future.
Source: Irishexaminer.com
