ESB warns of financial, operational 'challenge'
The ESB has warned it will be challenged – both financially and operationally – by the coronavirus crisis.
The energy utility posted an after-tax profit of €338m for 2019 and has recommended a dividend of €88m for the State – which would bring combined payments over the past decade to €1.2bn.
However, it said the effects of the Covid-19 pandemic will challenge it – “both operationally and financially during 2020”.
“We are acutely aware that we are in the midst of an unprecedented event with many of our customers experiencing financial challenges and uncertainty,” the company said.
“Our primary focus remains on ensuring the continued provision of a safe and reliable electricity service and supporting all of our customers,” it said.
The ESB’s comments came as the country’s energy watchdog, the Commission for Regulation of Utilities (CRU), extended the temporary ban on operators carrying out domestic electricity and gas disconnections until April 19.
“The CRU will continue to monitor the situation in relation to the Government measures to tackle the Covid-19 pandemic and take any necessary steps under our regulatory powers to ensure continuity of energy supply and to protect customers, particularly vulnerable customers,” said CRU chairperson Aoife MacEvilly.
Last week, the CRU also increased emergency credit levels for all gas pre-payment customers from €10 to €100.
