Sinn Féin spokesperson on Climate Action and Meath East TD Darren O'Rourke has said that ESB's 2022 profits in the context of a crippling cost of living crisis bills is a reflection of the failure of government policy.
The ESB yesterday announced profits of €847 million in 2022 in comparison to €679 million in 2021.
The Meath East Deputy says the increased dividends that will be returned to the state by ESB as a result will be welcome. However, we know the same is not the case for private energy companies who are set to announce similar profits in the days and weeks ahead.
The Sinn Fein TD says the greatest insult is the fact that he majority of the energy companies 2022 profits will remain unaffected by the government's soon-to-be introduced windfall tax, as the cap on market revenues element of that package applies from December 2022 to June 2023 only.
Meanwhile the Public Expenditure Minister says the significant profits the ESB Group has made since 2020, will not continue. Minister Paschal Donohue says that will change once the windfall tax takes effect.
