This is an obscene amount of profit for the ESB when so many of its customers are living in penury.
The government must ring-fence windfall profits in ESB to support the hundreds and thousands of people now living in energy poverty, according to Social Democrats Energy Spokesperson Jennifer Whitmore.
Deputy Whitmore said:
“I attended a St Vincent de Paul briefing this morning on energy poverty, where TDs were told the service had received an unprecedented 230,000 requests for help last year. Hundreds and thousands of families are enduring extreme hardship because of a cost-of-living crisis primarily driven by sky-high energy costs.
“As families around the country make choices about heating their homes or feeding their families, the ESB has announced a record €847 million profit. It has now recommended an enhanced dividend to be paid to the state of €327 million.
“However that still leaves the ESB with €231 million in profits this year. That is an obscene amount of profit for a State company when so many of its customers are living in penury.
“We should not tolerate a situation whereby a State company is making monster profits, double last year’s figure, while their customers are facing disconnections as a result of being unable to pay their bills.
“The government should ensure that at least 75% of the windfall profits the ESB has amassed are collected via the dividend. This money must then be ring-fenced to support the ever increasing number of people who are living in energy poverty.”
22 March, 2023
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