Our Strategy for a Brighter Future is anchored in ESB’s ambition to create a brighter future by leading the transition to a low-carbon energy future based on clean, reliable, affordable electricity. It sets out a path to achieve this ambition in a way that will also ensure that ESB continues to grow as a successful business and maintain the financial strength to invest in a low-carbon future at the necessary pace and scale. It also recognises the potential for new business growth arising from the transition. ESB’s Strategy highlights the importance of being adaptable, responsible and opportunistic in an era of unprecedented uncertainty.
In implementing our Strategy ESB will be guided by its Strategy Statement which summarises our geographic focus, business focus and our commitment to customer centricity, collaboration and innovation;
“Through our diverse businesses across Ireland, Northern Ireland and Great Britain we aim to meet customer energy needs by bringing the best of our capabilities together to deliver innovative and value-driven solutions for a low-carbon world.”
ESB's Business Environment
ESB’s Strategy addresses our business environment and has been informed by climate and energy policy, advances in technology, changing customer preferences and the emergence of new business models.
Five Strategic Objectives for a Brighter Future
1. Put customers’ current and future needs at the centre of all our activities
We will build on our reputation for customer service and trust by ensuring our approach allows our business and our customers to make the change to a low-carbon future. We will ensure the changes we make in our own business and the new products or technologies we offer are continually focused on better serving our customer’s needs.
2. Produce, connect and deliver clean, secure and affordable energy
We will continue to invest in renewable generation so that by 2030 at least 40% of our electricity will come from zero carbon sources. We will also reduce the carbon intensity and increase the flexibility of our thermal generation portfolio.
Investing in smarter electricity networks and metering will allow more sources of clean energy to be used on the system and for innovative customer solutions that reward them for exercising greater control over their energy usage.
We will help to reduce the substantial carbon impact from other energy sectors by promoting widespread adoption of technologies such as electric cars or heat pumps so that transport and heat can be provided by clean electricity.
3. Develop energy services to meet evolving market needs
The change to a low carbon future will see a shift from a small number of large generation locations to a large number of small generation locations and an increased use of wind and solar generation. New technologies in energy and information communications are enabling customers to exercise more control over their energy usage and cost. ESB aims to take advantage of these changes by capturing a significant share of the growing markets for system services needed to balance the grid and for energy services to individuals and businesses.
4. Grow the business while maintaining ESB’s financial strength
Maintaining a strong financial performance is key to ESB’s strategy as it will determine our ability to raise capital to invest in the transition to a low-carbon future.
ESB will position its businesses for growth across Ireland, Northern Ireland and Great Britain and explore new revenue streams across these markets while also maximising the value of its existing assets.
ESB will continue to ensure activities are aligned to upholding its strong investment grade credit rating target (BBB+ on a stand-alone basis)
5. Deliver a high performance culture that supports innovation and collaboration
Our ambition to lead the transition to low carbon future will depend on our ability to harness the talents, creativity and motivation of our people to deliver on our strategy.
ESB will cultivate a high-performing, innovative and customer-focused culture so that we have the right people with the right skills working together to create that brighter future.