Beatrice Lang
Electric Ireland is a regulated supply company that operates in the domestic market. It is a subdivision of the Electricity Supply Board (ESB), which was established in 1927 as a statutory corporation in the Republic of Ireland. The ESB is one of the largest companies in Ireland, employing around 7,000 people, and is mainly owned by the Irish government. Electric Ireland supplies electricity, gas, and energy services to over 1.2 million households and businesses in the Republic of Ireland and Northern Ireland. It is the ESB subdivision that most people are familiar with and is recognized as Ireland's leading energy provider.
| Characteristics | Values |
|---|---|
| Name | ESB Group |
| Date of establishment | 1927 |
| Type of company | Statutory corporation |
| Ownership | 5% owned by its workers, majority owned by the Irish government |
| Number of employees | 7,000 |
| Primary function | Managing Ireland's electricity supply |
| Subsidiaries | Electric Ireland, EirGrid plc, ESB International, Generation and Wholesale, Northern Ireland Electricity Networks |
| Annual profit | €531 million |
| Total sales | €3.34 billion |
| Debt | €5 billion |
| CEO | Pat O'Doherty |
| Chairwoman | Ellvena Graham |
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What You'll Learn
Electric Ireland is a subdivision of ESB
Electric Ireland is the retail division of ESB and is recognised as Ireland's leading energy provider. It supplies electricity, gas, and energy services to over 1.2 million households and 95,000 businesses in the Republic of Ireland and Northern Ireland. Electric Ireland is the ESB subdivision that most people are familiar with. It made €44 million in profits on €2.1 billion in sales in a year.
ESB is one of the largest companies in Ireland, employing around 7,000 people. It is 5% owned by its workers through the ESB ESOP (Employee Share Ownership Plan) Trustee Limited. The company is heavily unionised, with the IWU (Independent Workers Union) being the largest Network Technician union within the company.
ESB has a number of subsidiaries and enterprises, including Generation and Wholesale, which owns power plants and wind farms in Ireland, and ESB International, which provides electrical engineering consultancy services worldwide. ESB is also investing in clean energy technology and the refuelling network for electric cars.
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ESB is a state-owned company
Electric Ireland is a regulated supply company operating in the domestic market. It is a subdivision of the ESB Group, which is a state-owned company. The ESB was established by the Irish Free State government in 1927 to manage Ireland's electricity supply after the successful Shannon Scheme at Ardnacrusha. This scheme was the country's first large-scale electricity plant, providing 80% of Ireland's total energy demands at the time.
The ESB is one of the largest companies in Ireland, employing around 7,000 people. It is heavily unionized, with the IWU (Independent Workers Union) being the largest network technician union in the company. The company is 5% owned by its workers through the ESB ESOP (Employee Share Ownership Plan) Trustee Limited. The Irish government holds the majority of the remaining shares.
As a state-owned enterprise, the ESB has a unique position in the market. While it competes with other companies to supply electricity and gas to homes and businesses, it also owns Northern Ireland's power supply network and generates electricity. The ESB has a number of subsidiaries and investments in various areas, including power generation, renewables development, and computing consultancy.
The ESB has made significant strides towards a more sustainable future for Ireland. In 2008, the company announced a €22 billion capital investment program in renewable energy technology, aiming to halve its carbon emissions within 12 years and achieve carbon net-zero by 2035. This commitment to sustainability is also evident in its subdivision, Electric Ireland, which offers 'Smarter Living' initiatives to help customers use energy more efficiently and reduce their carbon footprint.
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ESB's history and establishment
Electric Ireland is a regulated supply company and is one of the fourteen companies operating in the domestic market. It is a subdivision of ESB, which was established in 1927 as a statutory corporation in the Republic of Ireland. The Electricity (Supply) Act of 1927 established the ESB to manage Ireland's electricity supply after the successful Shannon Scheme at Ardnacrusha. This scheme was Ireland's first large-scale electricity plant, and it provided 80% of the country's total energy demands at the time.
By 1937, plans were being made to build several more hydroelectric plants in Leinster, County Donegal, and County Cork. All of these new plants were completed by 1949, and together they harnessed about 75% of Ireland's inland water power potential. ESB is one of the largest companies in Ireland, employing around 7,000 people, and it is 5% owned by its workers through the ESB ESOP (Employee Share Ownership Plan) Trustee Limited. The company is heavily unionised, with the IWU (Independent Workers Union) representing network technicians and the Energy Services Union representing more senior staff.
In recent years, the ESB has made significant investments in renewable energy technology and set ambitious targets for reducing carbon emissions. In 2008, the company announced a €22 billion capital investment programme in this area, aiming to halve its carbon emissions within 12 years and achieve carbon net-zero by 2035. ESB has also established a €200 million investment fund, Novus Modus, to support clean energy technology and the refuelling network for electric cars.
ESB has several subsidiaries and subdivisions, including Electric Ireland, which is the best-known and provides electricity and gas to over 1.2 million households and businesses in the Republic of Ireland and Northern Ireland. Other subsidiaries include Generation and Wholesale, which owns power plants and wind farms in Ireland, and ESB International, which provides electrical engineering consultancy services and works on power plant projects worldwide.
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ESB's subsidiaries and investments
The Electricity Supply Board (ESB) is a state-owned electricity company based in Ireland with operations worldwide. It is composed of several distinct, legally separate companies. ESB Networks Limited manages the construction and maintenance of the electricity transmission system, while ESB Generation and Wholesale Markets (ESB GWM) operates a portfolio of power stations and holdings in wind and other renewables.
ESB International Limited is responsible for the company's unregulated activities, including electrical engineering consultancy services and holdings in power-generation joint ventures, renewables development, and computing consultancy. Northern Ireland Electricity (NIE) is responsible for the operation and maintenance of the electricity network in Northern Ireland and has been part of the ESB since they purchased it. The ESB also has significant holdings in wind generation, mainly through its wholly-owned subsidiary, Hibernian Wind Power.
In addition to its subsidiaries, the ESB has made significant investments in renewable energy technology. On March 27, 2008, the company announced a €22 billion capital investment programme aimed at halving its carbon emissions within 12 years and achieving carbon net-zero by 2035. This includes investments in wind and other renewable energy sources, as well as the development of a more sustainable energy future for Ireland.
The ESB is one of the largest companies in Ireland, employing around 7,000 people. It is mostly owned by the Irish government, with 5% owned by its workers through the ESB ESOP (Employee Share Ownership Plan) Trustee Limited. The company is unionised, with the IWU (Independent Workers Union) representing network technicians and the Energy Services Union representing senior staff.
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ESB's competitors and market position
Electric Ireland is a regulated supply company and one of fourteen companies operating in Ireland's domestic electricity market. Electric Ireland is a subsidiary of the ESB Group, which was established by the Irish Free State government in 1927 to manage Ireland's electricity supply.
The ESB Group is one of the largest companies in Ireland, with around 7,000 employees. In 2023, the ESB Group held a 40% electricity supply market share in Ireland, a decrease from the previous year. The company's market share has been fluctuating, with an increase of six percentage points between 2020 and 2021.
The ESB Group's competitors in the electricity supply market include the other thirteen companies operating in the domestic market, such as:
- Bord Gáis Energy
- Airtricity
- Pinergy
- PrePayPower
The ESB Group also has competitors in the global Enterprise Service Bus (ESB) market, which is projected to grow significantly, with an estimated market size of USD 2.85 billion by 2032. This market growth is driven by the increasing demand for seamless integration of complex applications and services within enterprise IT architectures.
Some of the major players in the global ESB market include:
- Software AG, with its webMethods Integration Platform
- MuleSoft, which was acquired by Salesforce
- IBM, with its DataPower Gateway platform
These companies offer ESB solutions that facilitate the integration of on-premises, cloud, and IoT applications, enabling businesses to enhance their operational efficiency and agility.
The ESB Group's market position in the global ESB market is not clear, but they have made significant investments in renewable energy technology, aiming to reduce their carbon emissions and achieve net-zero by 2035. The company also has holdings in power-generation joint ventures, renewables development, and computing consultancy, which may contribute to their competitiveness in the global ESB market.
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Frequently asked questions
Electric Ireland is a subdivision of ESB (Electricity Supply Board).
ESB is a state-owned company that supplies electricity and gas to homes and businesses in the Republic of Ireland and Northern Ireland.
ESB was established in 1927 by the Irish Free State government to manage Ireland's electricity supply after the successful Shannon Scheme at Ardnacrusha, Ireland's first large-scale electricity plant.
Electric Ireland is the retail division of ESB and is the company's best-known subdivision. It supplies electricity, gas, and energy services to over 1.2 million households and businesses in Ireland.
ESB owns Northern Ireland's power supply network and generates electricity for the region. Northern Ireland Electricity Networks, a subsidiary of ESB, is responsible for ensuring that electricity reaches every household, business, and organization in Northern Ireland.
