• Profit After Tax of €377m
• Almost €1.5bn capital investment in energy infrastructure projects in first six months of the year – up over 16% on same period in 2025
• Employee numbers pass 10,000, as ESB continues work to deliver the Net Zero carbon emissions by 2040 strategy
• Results provide basis for continued strong investment to deliver more capacity, and a more sustainable and resilient energy future

Issued at 7.05am,15 September 2026

ESB Group has today published its Interim Financial Statement for the six months ending 30 June 2026 (H1 2026).

Profit After Tax of €377m is up on last year’s €313m, which had been impacted by additional costs in the ESB networks’ businesses due to Storm Éowyn. In Customer Solutions profit fell by €10m, while Generation Trading profits increased by €22m, both impacted by renewed energy price volatility arising from the conflict in the Middle East.

ESB continued its significant capital investment in critical energy infrastructure over the first six months of 2026, with almost €1.5bn invested in capital projects, an increase of over €200 million on the same period in 2025.

Over €900m of this relates to investment in electricity network infrastructure across the island of Ireland, including the delivery by ESB Networks of the first projects under Price Review 6. In addition, almost €500m was invested in electricity generation, with around 70% of this investment in new renewable energy projects in onshore, offshore and solar technologies.

ESB is planning capital investment of c. €20bn in the period up to 2030 to deliver an electricity system that can support housing growth, economic expansion and technological transformation across society, in line with the Government’s National Development Plan. Strong financial performance and continued profits are essential to fund this major investment.

Commenting on the results, Paul Stapleton, ESB’s Chief Financial Officer, said:
 
“We are currently carrying out the biggest ever investment in Ireland’s electricity infrastructure, which will support the delivery of more homes and economic progress across the country and to ultimately achieve our Net Zero carbon emissions targets. An investment of this nature and magnitude requires a solid financial footing, and these results underline ESB’s continued robust performance. €4 was invested in capital projects for every €1 of Profit after Tax earned so far this year.”

“This investment is taking place against the backdrop of ongoing volatile global markets and geopolitical uncertainty, which have caused wholesale energy prices to rise in the first half of 2026, with further increases in recent weeks. This is impacting ESB and our customers, and it underlines the importance of reducing Ireland’s dependency on imported oil and gas which is a key goal of ESB’s investment plans.”

The conflict in the Middle East, and ongoing global geopolitical instability, has created upward pressure on wholesale gas and oil prices, particularly from February 2026 onwards. Electric Ireland’s hedging strategy mitigated this impact for the initial months of the crisis - however, it was necessary to increase electricity and gas prices from July 2026.
   
This was the first time Electric Ireland increased prices since October 2022. In the intervening period, the company delivered three gas price reductions, two electricity price reductions, and froze electricity prices last winter at a time when most other suppliers increased prices.

Electric Ireland understands the impact this price increase may have had on customers and continues to have a comprehensive range of supports in place, including flexible payment plans, PAYG meters, and energy saving advice. Electric Ireland remains committed to providing value to our customers and currently offers the lowest Electricity Standard Variable rate on the market. Despite the challenge of ongoing volatility, Electric Ireland residential electricity and gas unit rates and standing charges will remain unchanged until at least the end of this year.

Paul Stapleton added: “We remain committed to continued growth in capital investment to ensure a secure and reliable electricity system is in place to support housing, enable economic and social progress, and ultimately achieve our Net Zero carbon emissions targets – the continued financial strength of ESB is crucial to this.”

ESB Group continues to increase staffing levels to support the ongoing investment in infrastructure, with employee numbers surpassing 10,000 in H1 2026, mainly in the networks, generation and engineering business units.

The carbon intensity of the electricity ESB generates has fallen by almost 60% compared to 2005 baseline. Since 2005, ESB’s total Scope 1 carbon emissions from electricity generation have fallen by more than 70% as part of our Net Zero by 2040 strategy.

The full interim financial results for H1 2026 can be accessed here.