Esb treble profits - appalling!

Ah, should have got a well paid job with a defined benefit pension in the ESB. Damn!

All the profits go back to the exchequer anyway. A non story.

Absolute scummy carry on. Sure look you'll have the usual cohort who will defend this carry on.

The next govt. Who try privatise any national entity should be hung for treason.

What 200e grants?Am i missing out on free money?

They accept themselves that there was excessive profits from the generation side of things (Both Northern Ireland and here in Republic).

Their supply side is not making any excessive profits.

Overall its 15% - where the outcry on Cairn Homes and Glenveagh homes making a 15% net profit. Or the countless other companies that have even higher levels.

They are in a system that worked up until about 12 months ago and kept electricity prices low and is currently not working.

If its of any consequence, if you are on a discount, you are paying some of the lowest unit prices in Europe and way lower than the UK (even with the new cap). And its because the consumer prices are lower than the generation market that Panda Power has closed and others previously closed.

So, yes, generation is making a substantial gain, but its not a crazy level and most likely this will change very soon when the eu changes the pricing reference

That doesn't explain increases in standing charges, only unit pricing from vendors.

Same as any company provided perk. This isnt an us v them scenario.

"When generators are bidding to supply blocks of demand, they all get paid the price of the most expensive block of the day."

so as microgenerators, I'd be nice if we were paid the same 'most expensive' unit price per day... 🤪

The profits do. After extremely generous salary and pension costs are deducted first of course.

It is if you are of the opinion that their salaries / pensions are too generous. These are indirectly paid by the tax payer (you and me) in a semi-state company.

Every million in extra staff costs is taking away from their profit, so will not go to the exchequer.

Hiking the standing charge is the absolute opposite of what should be encouraged from the government side as that is a real kick in the teeth for the people who have outlaid thousands on solar pv systems. These people have invested in order to produce their own electricity and keep their bills super low. Increasing the standing charge is a big **** you to those people.

Was full on considering a hefty pv setup but not now. It was bad enough that they are allowed to act the maggot with feed in tariff rates but now this.

It's a private market, supply companies are free to charge whatever they want. As you the consumer are free to move company.

I mean on a notional level I agree, but saving money in the ESB would be very low down on the priority list of changes I'd like to see from the public pocket.

more like a smartphone to a walkie talkie!

I think you have misunderstood me. People should pay for any costs including maintaining the infrastructure. But all costs should be variable - there should be no fixed costs.

BTW I'm not some sort of left wing looney lamenting about profiteering in business. Businesses are there to maximise profit. The government is there to set some boundaries / frameworks within which those companies can do business. Like it is entirely up to the government and their bodies to forbid a standing charge if they so decide.

Surely as esb networks provide the network, the majority of any standing charge must make it's way to them.

It's ok saying change provider but if networks are putting increased costs into the system's it's pretty certain I would have thought that they will all be increasing standing charges.

Personally I think government via esbn should be offering direct fit solar pv to every household, with current grant funding used that way instead of the current system. Payment for those systems over 10 years as part of energy bill which should make it very sensible for everyone to do given that there should be big saving on energy use.

You sound like John Maynard Keynes. Hey sure let's double social welfare sure most of it will come back to the tax man anyway in the form of VAT on everything they buy, excise duty on their fags and booze, etc. so doing this doesn't really cost much 😂

But yeah obviously you are right indirectly.

I think Mary Lou is Keynes' granddaughter 😉 so no, I hope I do not sound like either of them! I'm more of a neoclassical economist myself. Although far from a fanboi of complete laissez-faire.