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Dermot Kennedy

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Government To Redistribute Large Amounts Of ESB's €390M Profit To The Public

File image: Rolling News

ESB's profits are up from 128 million euro for the same period last year.

The ESB Group's reported a profit after tax of 390 million euro for the first half of the year.

That's up from 128 million euro for the same period last year.

The company says the overall result provides the basis for continued strong investment in energy infrastructure.

The ESB is majority owned by the State and says profits are re-invested in maintaining the network, renewable energy and other infrastructure.

A windfall tax on the profits of energy companies is being planned for the budget.

The Taoiseach says the government will take a large amount of the ESB's profits to redistribute to people:

Tánaiste Leo Varadkar says the government will be clawing back some of the large profits from the company:




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