The Aontú leader said Electric Ireland – the retail division of ESB – made €650million in 2025 and Government should reduce its margin to zero.
Aontú leader Peadar Tóibín said the ESB’s profit margin should be reduced to zero, instead of making massive profits off cash-strapped Irish families.
Deputy Tóibín said: “Last year, Electric Ireland, the ESB, made €650million in profit.
“This is a semi-state company that operates on the policy of the Government of the land. And it’s making supernormal profit at a time families can hardly afford to pay for electricity in their homes.
“If you mandate the ESB to reduce their profit margin to zero, it would wash its face. It would have enough money to be able to pay for wages and to pay for infrastructural development in the future.
“You would save every domestic household €300 in this country, on an annual basis, which would be a significant help in terms of insulating them from the massive increases in electricity charges. And yet, the government is refusing to do that, and it’s wrong.”
Tóibin was speaking as Eurostat figures revealed Ireland has the highest household electricity prices in the European Union, paying 40% above the EU average and €480 a year more for its electricity compared to the EU average.
