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ESB reports 10.2% rise in operating profits for 2021

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ESB Group said its increased profits last year were due to a higher margin at its British generation business, increased demand for electricity and the timing of tariff changes at its network division.

That brings to €1.2 billion the amount the energy group has paid in dividends to the Irish Exchequer in the past decade.

It said it invested €1.2 billion in critical electricity infrastructure during the year, including renewable energy generation."In the context of the significant volatility in the energy markets, ESB delivered a positive set of financial results in 2021," said ESB's chief financial officer Pat Fenlon."Delivering long term value for the benefit of our customers, shareholders and the wider economy continues to be a key focus for ESB.

It was offset somewhat by the money made from the sale of a British waste wood energy plant, and part of its head office complex on Dublin’s Fitzwilliam Street, which was recently redeveloped.

 

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