EirGrid Group publishes its 2025 Annual Report

EirGrid Group, responsible for operating, developing and enhancing the electricity grid in Ireland, has released its 2025 Annual Report, which covers the period from 1 October 2024 to 30 September 2025 and outlines the financial and business performance of this period.

EirGrid has a significant capital investment programme for the coming years and has said it will continue to build financial strength to enable the delivery of critical electricity infrastructure supporting Ireland’s transition to a low carbon society, supporting the country’s social and economic growth.

Gross profit before tax, as reported under International Financial Reporting Standards (IFRS), was €429.1m, up from €9.8m the previous year. This was mainly due to regulatory timing differences, including the recovery of revenues in 2024-25 for costs recognised in previous years, and over-recoveries for the current year to be returned in future tariffs and also the release of a grant of €151m.

The increase in reported profit before tax under IFRS is not a reflection of underlying profit growth which remained broadly in line with the prior year. Total underlying profit was €23.2m, compared to €25.6m the previous year.1

In October 2025, EirGrid paid an annual dividend of €4.0m in respect of the prior 2023-24 financial year. EirGrid also paid a special dividend of €50.0m in 2024-25.2 The company is proposing to pay a dividend of €4 million to the Government this year. 

EirGrid is progressing the most ambitious programme ever on Ireland’s transmission system, supporting the delivery of Government policy in key areas such as housing, climate and industry. To support this, EirGrid was an active member of the new Government-led Accelerating Infrastructure Taskforce. In total, network spend by EirGrid on the transmission system amounted to €37.8m during the financial year. 

EirGrid’s costs are approved and overseen in 5-year periods through the CRU’s Price Review process. As part of this process, EirGrid submitted a plan for the PR6 period of 2026-2030 against a backdrop of objectives laid down by Government and the CRU.  Subsequently, an investment package of up to €18.9 billion has been provided to EirGrid and ESB Networks (Ireland’s Transmission Asset Owner and Distribution System Operator) over the next five years.

Key highlights for the year to 30 September 2025 included:

The Chair of EirGrid Group, Brendan Tuohy, said: "EirGrid’s core responsibility is to operate Ireland’s electricity system safely, securely and reliably. This Annual Report shows that, during a period of significant change, EirGrid continued to meet that responsibility while preparing for the scale of delivery now required.

"The coming years will be decisive. As Ireland’s economy and society transition increasingly to electricity for heat, transport, enterprise and other energy needs, future economic and social development will depend critically on a strong, resilient electricity system.

"That means delivering major grid infrastructure at pace, integrating more renewable generation, and keeping security of supply and cost competitiveness central to every decision. EirGrid will build on progress made and work with Government, regulators, industry and communities to deliver the infrastructure Ireland needs."

EirGrid Chief Executive Officer Cathal Marley said: "Over the course of 2024-25, important progress on planning and construction of necessary grid infrastructure continued at pace, while we built our capacity and capability at EirGrid to deliver over the coming years.

"To support this, over the course of 2024-25, we saw an increased level of engagement and collaboration with Government departments, including through newly-established task forces focusing on overcoming challenges faced across infrastructure delivery, housing, and energy affordability. There was also significant engagement with our colleagues in ESB Networks and in CRU on the Price Review Process, and we welcome the final determination of this process, which will enable investment over the next five years.

"I’m delighted also that EirGrid Group’s Corporate Strategy 2026–2030 was launched last week. This focuses on delivering a grid that is ready for the future, one that can support economic and regional growth, electrification, housing and more renewable generation, while maintaining a reliable and secure supply. It is about building capacity, strengthening resilience and transforming how electricity flows across Ireland."