Storm Éowyn Cost ESB €100 Million

ESB Group has reported underlying operating profits of €424 million for the first half of 2025, in line with the same period last year, despite the impact of Storm Éowyn, which struck Ireland in January.

The storm caused widespread power outages, prompting ESB Networks and NIE Networks to deploy every available resource to restore electricity, at an additional operating cost of around €100 million.

Storm Éowyn, which struck Ireland on January 24, was one of the most severe weather events in the country’s recent history. The storm brought record-breaking winds, widespread power outages, and significant infrastructural damage.

At its peak, over 768,000 homes, farms, and businesses in Ireland were without power. The storm caused unprecedented damage to the electricity network, with fallen trees destroying parts of the rural distribution system. Restoration efforts involved over 1,500 personnel, including international support, and took several weeks to complete.

The utility’s strong financial performance reflects increased investment in critical infrastructure and disciplined cost control, with €1.3 billion spent on network and generation projects in the first six months, up €400 million on 2024. More than €700 million went towards electricity network upgrades to improve resilience, connect renewable generation, and support new housing.

Paul Stapleton, ESB Chief Financial Officer, said the results “provide a foundation for continued investment in a reliable and sustainable electricity system as we transition to net zero carbon emissions by 2040.”

Despite volatile wholesale energy markets, Electric Ireland has confirmed gas prices will fall while residential electricity bills remain unchanged for nearly 1.1 million customers from November.

ESB’s renewable energy ambitions continued in H1 2025, including milestones at Moneypoint, the Inch Cape offshore wind farm in Scotland, and the fully operational Neart na Gaoithe project. Employee numbers have also risen to almost 10,000 as the company expands capacity and expertise to support the transition to a low-carbon energy system.