Energy ESB ‘determined’ to stop burning coal at Moneypoint next year - chief executive Paddy Hayes
The ESB is “determined“ to stop burning coal at Moneypoint by the end of next year, its chief executive has said. Paddy Hayes told the Business Post that the country’s largest power station in County Clare will try shift to oil over the next two years, and that its three generators will increasingly be used only as back-up options when supply is tight.
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ESB profits rise 33% to €868m boosted by British businessESB profits increased by 33% to €868 million last year, with its British business playing a significant role. The company plans to pay a dividend of €220 million to the State, bringing the total handed over to the Exchequer to €1.4 billion in 10 years. Despite the easing of the energy crisis, wholesale prices remained high, and ESB's subsidiary Electric Ireland recently reduced energy prices. However, the company acknowledges that customers still face high charges. ESB's investment also increased by €334 million to €1.73 billion in 2023, with a forecast of over €11 billion in capital spending over the next five years.
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