EM - August/September 2011 - (Page 1)

The newspaper for Aug/Sept 2011 www.esb.ie/em Poolbeg CCgT suCCessfully ComPleTes Phase 1 of major overhaul Page 25 Vietnamese Delegation visits ESB energy international Page 22 tHe future looks tweet Page 14 SummEr In rEnVylE, ConnEmara Photo By John WallaCE, ESB tElEComS ESB pays dividend of €77 million For generations ahead... Safe Driving HealtH & Habitat operating profits of €339 million, generated cash from operations of €858 million, and made capital investments of €819 million www.esb.ie  esb’s annual report for 2010 shows the company earned Page 34 ESB continuES to deliver significant dividends to its Shareholders, recommending a dividend of €77 million for 2010. this brings the total dividends and subsidies paid by ESB over the past nine years to over €1.2 billion. Last year, ESB contributed €2.2 billion to the irish economy through purchases from irish suppliers, taxes, rates, wages and dividends. Describing the financial performance of ESB as very strong in spite of the extremely challenging business environment, the company chairman, Lochlann Quinn, said an- nual revenues were €2.7 billion and the level of investment in electricity infrastructure remained high. “this growth and investment has allowed ESB to continue to make a very significant contribution to the irish economy in difficult times while maintaining its financial strength and growing its asset base,” he added. the year was marked by the completion of a number of key developments: • SB’s acquisition of Northern IreE land Electricity (niE) • landmark agreement resolving a A €2 billion actuarial pension deficit • ontinuing investment in sustainC able initiatives • he positive announcement by T cER that ESB would be allowed to offer unregulated competitive prices in the residential electricity market from April, 2011. commenting on the purchase of niE, the chairman said the company “regards the acquisition as an extension of our core businesses and represents a strategic alignment of the transmission and Distribution systems across the island of ireland”. 00 Covers 208w.indd 1 25/05/2011 10:25:45 “it will bring enormous potential for growth and synergies including the delivery of an all-island Smart Grid,” he added. Meanwhile, ESB chief Executive, Padraig McManus said the agreement reached with unions and staff in effectively eliminating the pension deficit is “an extremely significant and positive development given the challenges facing all defined benefit schemes in the current economic environment”. In this issue n . n n n n News . . . . . . . . . . . . . . . . . . . . . . . . . . 02 Services & eSb electric Ireland . . . . .10 eSb Networks Ltd . . . . . . . . . . . . . 16 eSb energy International . . . . . . 22 Health & Habitat . . . . . . . . . . . . . . . 31 n Life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Continued on page 3 issn no. 0790-7508 http://www.esb.ie/em

Table of Contents for the Digital Edition of EM - August/September 2011

EM - August/September 2011
In This Issue
News
Services & ESB Electric Ireland
ESB Networks Ltd
ESB Energy International
Health & Habitat
Life

EM - August/September 2011

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