ESB Group Announces Annual Results for 2017

Leagan Gaeilge Thíos/ Irish version below 

ESB Group Announces Annual Results for 2017:

Delivered reliable electricity networks, long-term savings for residential customers total capital investment of €867 million and dividend of €1.4 billion to Irish Exchequer over last ten years

Dublin, Friday 9th March 2018  

Financial Highlights

  • Capital Investment - €867 million
  • Operating Profit before exceptional charges- €490 million
  • Dividends - €60 million declared for 2017, €1.4 billion paid to the Irish Exchequer in the last ten years
  • Loss after exceptional charges, interest and tax - €32 million

ESB Group today published its Annual Report and Financial Statements for 2017, reporting an operating profit before exceptional charges of €490 million. ESB continues to deliver reliable and safe electricity networks to 3.1 million customers, provide significant long term savings to over one million Electric Ireland residential electricity and gas customers and invest in critical long term electricity infrastructure including low carbon and renewable generation.

2017 - the 90th anniversary of the establishment of ESB – saw the delivery of a satisfactory financial performance in challenging market conditions with operating profit before exceptional charges of €490 million and capital investment of €867 million in long term electricity and other infrastructure.   There was a €32 million loss after interest and taxation, mainly due to exceptional non-cash impairment charges of €276 million on ESB’s generation assets which represents approximately 2% of ESB’s total assets. ESB took this prudent decision, based on the estimated impact on projected revenues of the introduction of the new Integrated Single Electricity Market (I-SEM) in May 2018 and lower wholesale electricity margins.

ESB’s strategy through to 2030 commits to leading the transition to reliable, affordable low-carbon energy for the benefit of our customers and the economy. This is demonstrated by our capital investment in strengthening electricity networks, investing in sustainable low-carbon generation like wind and solar and empowering our customers to control how and when they use electricity through smart energy services for Homes and Businesses.

Commenting on the results Pat Fenlon, ESB’s Executive Director, Group Finance and Commercial said; “In 2017, ESB delivered a satisfactory performance in challenging market conditions with operating profit before exceptional charges of €490 million and €867 million of energy infrastructure and other investments.”  

Pat O’Doherty, ESB’s Chief Executive said; “In 2017, ESB continued to focus on delivering long term value and investing in critical long term electricity infrastructure for the benefit of our customers, shareholders and the wider Irish economy.  ESB’s solid underlying financial position ensures it well placed to lead the transition to reliable, affordable low carbon energy for Ireland”.

Shareholders

A dividend of €60 million was declared in 2017. Total dividends paid to the Irish Exchequer over the past ten years amount to €1.4 billion.

Customers                                                                                                          

In 2017 Electric Ireland underpinned its commitment to rewarding customer loyalty by automatically applying enduring long term savings of up to 8.5% to almost one million of its residential electricity and gas customers.  In addition Electric Ireland also postponed the introduction of unavoidable electricity price increases until after the peak winter bill period. These initiatives have ensured Electric Ireland customers benefit from the best long term energy savings available in the market.

Electric Ireland continues to develop innovative products for customers including the introduction of a residential solar power offer and the launch of the Smarter home offering in early 2018. It continues to retain high customer satisfaction ratings.

ESB’s networks businesses (ESB Networks and NIE Networks) continued to focus on customer service and delivering reliable and safe electricity over increasingly smarter networks to 3.1 million homes, farms and businesses in Ireland. In October 2017, Storm Ophelia caused significant damage to the electricity network resulting in 442,000 electricity customers losing electricity supply.  This commitment to customer service and delivering reliable and safe electricity networks was demonstrated with ESB’s  networks businesses deploying over 3,500 staff and contractors  to reconnect and safely restore electricity to all customers homes and businesses who lost supply. The safety and reliability of the electricity network is a key factor in attracting business investment in Ireland.

Irish Economy

ESB invested €867 million in energy infrastructure and other investments during 2017.

ESB contributes almost €2 billion annually to the Irish economy through dividends, investments, taxes and jobs. ESB provides significant employment both directly, with over 7,790 employees, and indirectly through contractors and service providers.

The ESB Group 2017 Annual Report and Financial Statements can be found here – esb.ie/ir.

-Ends-

About ESB

ESB operates across the electricity market: from generation, through transmission and distribution to the supply of customers with an expanding presence in the Great Britain generation market. In addition we extract further value through supplying gas, energy services and using our networks to carry fibre for telecommunications. ESB is the owner of the distribution and transmission networks in the Republic of Ireland (via ESB Networks) and Northern Ireland (via Northern Ireland Electricity Networks Ltd).  In 2017 it had a 42% share of generation in the all-island market (via Generation and Wholesale Markets) and a 34% share of electricity supply in the all-island market (via Electric Ireland) with 1.4 million customer accounts.  

ESB contributes almost €2 billion annually to the Irish economy through dividends, investments, taxes and jobs. ESB provides significant employment both directly, with over 7,790 employees, and indirectly through contractors and service providers. Read more here

Torthaí na bliana 2017 fógartha ag grúpa BSL

Líonraí leictreachais iontaofa seachadta, coigiltis fhadtéarmacha do chustaiméirí cónaithe, infheistíocht iomlán chaipitiúil €867 milliún agus díbhinn €1.4 billiún do Státchiste na hÉireann le 10 mbliana anuas

Baile Átha Cliath, Dé hAoine an 9 Márta 2018

Buaicphointí Airgeadais
• Infheistíocht Chaipitiúil – €867 milliún
• Brabús oibriúcháin roimh mhuirir eisceachtúla - €490 milliún
• Díbhinní – €60 milliún fógartha maidir le 2017,  €1.4 billiún íoctha le Státchiste na hÉireann le deich mbliana anuas
• Caillteanas i ndiaidh muirir eisceachtúla, Ús agus cáin - €32 milliún


D'fhoilsigh Grúpa BSL a Thuarascáil Bhliantúil agus  a Ráitis Airgeadais don bhliain 2017 inniu. Tuairiscíodh brabús oibriúcháin €490 milliún roimh mhuirir eisceachtúla. Tá BSL ag cur líonraí leictreachais atá sábháilte agus iontaofa ar fáil do 3.1 milliún custaiméir agus ag soláthar coigilteas suntasach fadtéarmach do bhreis agus aon mhilliún custaiméir baile leictreachais agus gáis de chuid Electric Ireland agus déanann infheistíocht i mbonneagar criticiúil fadtéarmach leictreachais ina measc bonneagar do ghiniúint fuinnimh ísealcharbóin agus in-athnuaite.

Sa bhliain 2017- an bhliain a ndearnadh comóradh ar 90 bliain ó bunaíodh BSL - d'éirigh go maith leis an mBord ainneoin coinníollacha dúshlánacha sa mhargadh agus rinne brabús oibriúcháin €490 milliún roimh mhuirir eisceachtúla agus infheistíocht chaipitiúil €867 milliún i mbonneagar fadtéarmach leictreachais agus i mbonneagar eile. Bhí caillteanas €32 milliún i gceist i ndiaidh úis agus cánach, a bhain don chuid is mó le muirir bhearnaithe neamhairgid eisceachtúla €276 milliún ar shócmhainní giniúna BSL ar ionann é agus tuairim is 2% de shócmhainní iomlána BSL.   Ghlac BSL an cinneadh cúramach seo bunaithe ar an tionchar measta a bheadh ag an Margadh Leictreachais Aonair Comhtháite (I-SEM) a thiocfaidh i bhfeidhm i mí Bealtaine 2018 agus ag lamhálacha leictreachais níos ísle ar ioncaim réamh-mheasta.

Geallann BSL, ina straitéis go dtí 2030, an t-athrú go dtí fuinneamh ísealcharbóin, iontaofa, inachmhainne a threorú ar mhaithe lenár gcustaiméirí agus leis an ngeilleagar. Léirítear sin leis an infheistíocht chaipitiúil atá déanta againn chun ár líonraí leictreachais a neartú, an infheistíocht i nginiúint ísealcharbóin inbhuanaithe mar fuinneamh gaoithe agus gréine agus an chumhacht a thabhairt dár gcustaiméirí rialú a dhéanamh ar conas agus cá huair a úsáideann siad leictreachas trí sheirbhísí fuinnimh cliste i dTithe agus Gnónna.

Maidir leis na torthaí dúirt Pat Fenlon, Stiúrthóir Feidhmiúcháin BSL, Grúpa Airgeadais agus Tráchtála, "In 2017 chruthaigh BSL go sásúil  faoi choinníollacha margaidh a bhí dúshlánach agus rinne brabús oibriúcháin €490 milliún roimh mhuirir eisceachtúla agus infheistíocht chaipitiúil €867 milliún i mbonneagar fadtéarmach leictreachais agus infheistíochtaí eile.

Dúirt Príomhfheidhmeannach BSL, Pat O’Doherty, “Lean BSL, in 2017, ag díriú ar luach fadtéarmach a sholáthar agus infheistíocht a dhéanamh i mbonnegar criticiúil fadtéarmach leictreachais dár gcuid custaiméirí, dár ngeallsealbhóirí agus do gheilleagar na hÉireann i gcoitinne. Cinnteoidh staid  láidir airgeadais BSL go bhfuil sé in áit mhaith chun an t-athrú a threorú go dtí fuinneamh ísealcharbóin inacmhainne agus iontaofa in Éirinn".

Geallsealbhóirí
Fógraíodh díbhinn €60 milliún in 2017. €1.4 billiún íoctha i ndíbhinn le Státchiste na hÉireann le deich mbliana anuas.

Custaiméirí
Sa bhliain 2017 chuir Electric Ireland bonn taca faoin thiomantas luach saothair a thabhairt dá gcustaiméirí dílse nuair a chuir sé coigiltis de suas le  sheasmhacha fhadtéarmacha de suas le 8.5% i bhfeidhm go huathoibríoch do suas le beagnach aon mhilliún dá chuid custaiméirí baile leictreachais agus gáis.  Chomh maith leis sin níor chuir Electric Ireland an méadú dosheachanta ar phraghas an leictreachais i bhfeidhm go dtí go raibh tréimhse bhille an gheimhridh caite. Chinntigh na tionscnaimh seo gur bhain custaiméirí Electric Ireland leas as na coigiltis fhadtéarmacha fuinnimh is fearr sa mhargadh.
Leanann Electric Ireland le táirgí iomaíocha agus nuálacha a fhorbairt dá chustaiméirí ar a n-áirítear táirge grianchumhachta cónaithe agus an táirge Teach Níos Cliste a seoladh i dtús na bliana 2018. Tá rátáil ard sástachta aige i gcónaí i measc custaiméirí.
Lean gnónna líonraí BSL (ESB Networks agus NIE Networks) ag díriú ar sheirbhís do chustaiméirí agus ar leictreachas sábháilte iontaofa a chur ar fáil trí líonraí atá ag éirí níos cliste go dtí 3.1 milliún baile, feirm agus gnó in Éirinn. I mí Dheireadh Fómhair 2017, rinne Stoirm Ophelia roinnt mhaith damáiste don líonra leictreachais agus fágadh 442,000 custaiméir gan leictreachas. Léiríodh tiomantas do sheirbhís do chustaiméirí agus do líonraí leictreachais sábhailte agus iontaofa a chur ar fáil nuair a chuir gnónna líonraí BSL 3,500 ball foirne agus conraitheoirí BSL ar fáilchun leictreachas a athcheangal agus a thabhairt ar ais go sábháilte chuig tithe custaiméirí agus chuig gnónna a raibh an soláthar caillte acu. Tá sé tábhachtach go mbeadh an líonra leictreachais sábháilte agus iontaofa chun infheistíocht gnó a mhealladh chun na hÉireann.

Geilleagar na hÉireann
Rinne BSL €867 milliún a infheistiú i mbonneagar fuinnimh agus i mbonneagair eile le linn 2017.

Cuireann BSL beagnach €2 billiún le geilleagar na hÉireann gach bliain trí dhíbhinní, infheistíochtaí, cáin agus poist. Cuireann BSL fostaíocht shuntasach ar fáil go díreach, le 7,790 fostaí, agus go hindíreach trí chonraitheoirí agus soláthróirí seirbhísí.

Ta teacht ar Thuarascáil Bhliantúil agus Ráitis Airgeadais Ghrúpa BSL 2017 anseo esb.ie/ir.

-Críoch-

Eolas faoi BSL
Oibríonn BSL i ngach réimse den mhargadh leictreachais: ó ghiniúint, tarchur agus dáileadh go soláthar custaiméirí agus láithreacht atá ag méadú i margadh giniúna na Breataine Móire. Chomh maith leis sin, tá buntáistí eile ag baint le  BSL trí ghás, seirbhísí funnimh a sholáthar agus úsáid a bhaint as ár gcuid líonraí chun snáithín a iompar do chúrsaí teilechumarsáide. Is le BSL na líonraí tarchuir agus dáiliúcháin i bPoblacht na hÉireann (trí Ghréasáin BSL) agus i dTuaisceart Éireann (trí Northern Ireland Electricity Networks Ltd).  Sa bhliain 2017 bhí sciar 42% den mhargadh giniúna aige sa mhargadh uile-oileánda (trí Mhargaí Giniúna agus Mórdhíola) agus sciar 34% den mhargadh soláthair leictreachais sa mhargadh uile-oileánda (trí Electric Ireland) le 1.4 milliún cuntas custaiméara.

Cuireann BSL beagnach €2 billiún le geilleagar na hÉireann gach bliain trí dhíbhinní, infheistíochtaí, cáin agus poist. Cuireann BSL fostaíocht shuntasach ar fáil go díreach, le 7,790 fostaí, agus go hindíreach trí chonraitheoirí agus soláthróirí seirbhísí. Léigh tuilleadh anseo