Minister O’Brien welcomes decision to publish the Electricity (Supply) (Amendment) Bill 2025

Bill paves way for Government investment of €1.5 billion in ESB Networks – to support crucial development of our electricity grid over the next five years
 
Minister for Climate, Energy and the Environment Darragh O’Brien has today welcomed the Government decision to publish the text of the Electricity (Supply) (Amendment) Bill 2025. The Bill will now pass through the Houses of the Oireachtas and once enacted, will provide the mechanism for Government to invest €1.5 billion in ESB Networks to support crucial development of our electricity grid over the next five years, as committed to in the updated National Development Plan. The Bill also provides for an increase in ESB’s statutory borrowing limit from €12 billion to €17 billion.
 
The €1.5 billion investment will support ESB’s ability to finance its unprecedented investment plan for 2026-2030. Enabling it to expand, modernise and reinforce our onshore electricity network infrastructure.
 
ESB Networks is responsible for managing the country’s electricity networks and the overall ESB investment plan will see delivery of over 500 capital projects including 181km of new overhead lines, 319km of new underground cables, nearly 70 new and upgraded substations across the country and 50,000 pole replacements.
 
This critical infrastructure will improve the resilience of Ireland’s onshore electricity system and future-proof it for generations to come. It will support housing development, foreign direct investment, Ireland’s transition to greater levels of renewable energy and safeguard against damage from future weather events. It will ensure we can meet the demands required by the expected 50% growth in electricity by 2035 and deliver on Ireland’s energy needs.
 
Without Government equity investment, ESB Networks would be unable to deliver such an extensive and rapid programme of work in the five years to 2030. While the investment does not directly lower current customer electricity bills, it ensures that ESB can borrow at the most competitive interest rates, ultimately lowering the impact of network charges on customer bills.
 
The ESB equity injection is part of the €3.5 billion Government investment approved in the National Development Plan in July, which represented the largest single investment ever made in Ireland’s electricity network. €2 billion will be allocated to EirGrid over the next five years, and the mechanism for this equity investment will be agreed and legislated for separately.
 
Speaking today, Minister O’ Brien said:
 
“This €1.5 billion investment is crucial to modernising and future-proofing our electricity network infrastructure.
 
“We want to ensure that every home and every business has a reliable and secure source of electricity, including the 300,000 new homes we’ve committed to build by 2030.
 
“This investment will deliver energy security for Irish families and communities across the country. It will drastically improve network resilience against future weather events. It will create thousands of jobs. And it will make Ireland a more attractive place for international companies to invest and grow.”
 
Commenting, Paddy Hayes, Chief Executive, ESB said:
 
“ESB welcomes the publication of proposed legislation to facilitate an equity investment of €1.5 billion which will support ESB Networks’ plan to deliver an investment of €13.4 billion in critical electricity infrastructure over the next five years.
 
“Investment by ESB Networks in enhancing electricity system infrastructure is essential – to support economic development, housing growth, and improved resilience, while delivering of an increasingly decarbonised electricity system – for customers, for the economy and for our future.”