Business paid €30m dividend to parent
Accounts filed for Coolkeeragh ESB Ltd show the business earned £12.1m profit last year, 20% more than the £10m the company booked in 2022. Photograph: Cyril Byrne
Martin Bellerby, Coolkeeragh director, said in his report filed with the accounts that gains from contracts to provide electricity to companies within the ESB group boosted profits. The business paid a €30 million dividend to its immediate parent, ESB Asset Development Ltd, part of the larger Irish State-owned energy group. Coolkeeragh paid no dividend in 2022.
Coolkeeragh emitted 375 grammes of carbon-dioxide for every kilowatt hour of electricity it generated last year, slightly less than the 382g produced in 2022. The average Irish home uses around 4,200 KW/h a year. The ESB’s long-term target is to cut emissions to 200g per KW/h. Burning gas to generate electricity is the main source of carbon-dioxide in power plants such as Coolkeeragh.
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