Electric Ireland

Electric Ireland is an Irish Utility company that supplies electricity and gas to business and residential customers in Ireland. It is the supply division of the Electricity Supply Board, the former monopoly electricity company in Ireland. The company now operates in an open market competing for the supply of retail electricity to residential customers. Electric Ireland sell a variety of smart technology including, Electric Vehicle Home Chargers, Solar PV Panels, Battery Storage and Smart Thermostats including Nest Thermostat and Climote are also sold by Electric Ireland's online Shop. Other major suppliers are Airtricity and, more recently, Bord Gáis Energy.

The business was known previously as ESB Customer Supply and ESB Independent Energy before 4 April 2011.[1] The brand was a transitional one; in January 2012, all references to ESB were dropped and it is simply known as Electric Ireland.[2]

Regulation and pricing

As a part of the regulatory system, the company as the former monopoly must sell its electricity at a premium of 10% above market price in order to encourage new entrants to the market place. The company has been unable to compete with these new entrants. It has been announced that ESB Customer Supply must re-brand the entire supply operation and lose 40 per cent of its customers before it will be allowed to decide its own prices. Currently it is regulated by the Commission for Energy Regulation.[3][4][5][6]

Low carbon economy

In April 2010, the company's renewable energy investment fund, ESB Novusmodus, joined the Climate Change Capital Private Equity Fund to pledge €5 million to support Cork-based company Nualight.[7] Nualight are considered as part of the low-carbon economy due to their long lasting LEDs which are used in supermarkets in Ireland, the UK, Germany and Switzerland.

Partnerships and acquisitions

In May 2010, ESB announced a partnership with GT energy, to create Ireland's first geothermal electricity project.[8]

In June 2010, ESB announced the acquisition of a wind farm project in South Wales which currently generates 34.5 MW.[9]

Sponsorship

Electric Ireland has a number of sponsorship programmes including Darkness Into Light with Pieta House, Electric Picnic, The GAA Minor Championships and The GAA Higher Education Championships.

References
  1. "Archived copy". Archived from the original on 2012-03-19. Retrieved 2012-03-06.CS1 maint: archived copy as title (link)
  2. "Archived copy". Archived from the original on 2011-06-15. Retrieved 2011-04-08.CS1 maint: archived copy as title (link)
  3. "Archived copy". Archived from the original on 2012-03-05. Retrieved 2012-03-06.CS1 maint: archived copy as title (link)
  4. http://www.rte.ie/news/2010/0421/esb.html
  5. Energy prices will not decrease dramaticaly, [sic] says Regulator, Wednesday, April 21, 2010 - 01:23 PM
  6. https://www.irishtimes.com/newspaper/breaking/2010/0421/breaking23.htm
  7. http://www.insideireland.ie/index.cfm/section/news/ext/nualightclimatechangeequity001/category/896%5B%5D
  8. GT Energy and ESB announce geothermal projects
  9. ESB buys Welsh wind farm project
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