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ESB Group reports 30% rise in profits to €676 million in first six months of the year
The state-owned energy company said its profits from the start of the year to 30 June had increased by €157 million compared to the same period last year.
THE ESB GROUP has announced a 30% rise in its operating profits to €676 million during the first six months of this year.
The state-owned energy company said its profits from the start of the year to 30 June had increased by €157 million compared to the same period last year, during what it said was “a period of continued uncertainty and change for the energy industry”.
ESB said that the increase in profit relates primarily to its operations in Great Britain, where its Generation and Trading business and its energy supply business benefitted from a higher energy margin.
The energy margin is the value of its sales of energy minus the direct energy costs.
ESB said that revenue in ESB Networks – which builds, operates and maintains the electricity network in Ireland – also rose as a result of “regulated network tariff changes”.
It said it also benefitted from “foreign exchange movements”.
The state-owned energy company said its profits from the start of the year to 30 June had increased by €157 million compared to the same period last year.
THE ESB GROUP has announced a 30% rise in its operating profits to €676 million during the first six months of this year.
The state-owned energy company said its profits from the start of the year to 30 June had increased by €157 million compared to the same period last year, during what it said was “a period of continued uncertainty and change for the energy industry”.
ESB said that the increase in profit relates primarily to its operations in Great Britain, where its Generation and Trading business and its energy supply business benefitted from a higher energy margin.
The energy margin is the value of its sales of energy minus the direct energy costs.
ESB said that revenue in ESB Networks – which builds, operates and maintains the electricity network in Ireland – also rose as a result of “regulated network tariff changes”.
It said it also benefitted from “foreign exchange movements”.
ESB Group reports 30% rise in profits to €676 million in first six months of the year
The state-owned energy company said its profits from the start of the year to 30 June had increased by €157 million compared to the same period last year.
www.thejournal.ie