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E.S.B.'s contribution to the state


Mushroom

Well-known member
Joined
Nov 27, 2009
Messages
15,777
"The Irish Independent understands the letter talks about the "strong commercial returns" the company has produced for the State, with the company paying out dividends of €815m over the last eight years, with €95m going to the exchequer"

So where did the other €720m go to?
 

TODevastated

Well-known member
Joined
Oct 9, 2009
Messages
1,334
"The Irish Independent understands the letter talks about the "strong commercial returns" the company has produced for the State, with the company paying out dividends of €815m over the last eight years, with €95m going to the exchequer"

So where did the other €720m go to?
as we are the sole owner we should have got the lot, unless the employees have a 15% share?
 

martino

Well-known member
Joined
Feb 22, 2009
Messages
1,382
I don't why people are so hard on the ESB-they deliver a good service, powercuts are extremely rare and when storms damage lines they're out fast to repair the damage. So what if they earn more than others-maybe they deserve it? Cheaper electricity would be good though.
 

hammer

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Joined
Jul 6, 2009
Messages
58,514
Have we now the highest ESB prices in Europe?

Of course you will have a good service.

Competiveness my ar...........
 

politicaldonations

Well-known member
Joined
Sep 28, 2006
Messages
683
Still a near monoloply over past 8 years so not suprising they make a profit. Its the wider economy that suffers from excess cost of producing energy. Hook us up to UK for most power and undercut these overpaid extortionists.
 

derekbhoy

Member
Joined
Aug 7, 2008
Messages
21
down with the smash and grab merchants like the fine gael party........its a sad day when the majority of this country want these idiotic facists in power.Any state company that produces a dividend should be held firmly in state hands to protect our future as a soverign nation and any state company that is making a loss should be streamlined in order to make a profit ,but should certainly not be sold off to the vultures that will strip it to its bare bones to create a quick profit leaving the children of the nation to pick up the pieces
 

martino

Well-known member
Joined
Feb 22, 2009
Messages
1,382
Have we now the highest ESB prices in Europe?

Of course you will have a good service.

Competiveness my ar...........
But we don't have the highest prices. I just checked EDF in France, they are cheaper at 11.25c per kW/hr. Vatenfall in Germany, however, are charging 19.76 per kW/h, while Union Fenosa in Spain charges 16.50c. ESB's Urban 24 rate is 14.10c per kW/h which from my quick search seems relatively good.
 

cry freedom

Well-known member
Joined
Nov 8, 2009
Messages
2,400
Will the power station workers at Poolbeg, [said to be on 100,000 plus per year average] be getting a pay increase next round ?
 

davehiggz

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Joined
May 7, 2009
Messages
1,116
but should certainly not be sold off to the vultures that will strip it to its bare bones to create a quick profit leaving the children of the nation to pick up the pieces
Fine Gael doesn't want to smash and grab anything. The only pieces our children will be picking up is the national debt. We need to reduce it and selling off non-essential state assets is crucial to making big savings.

Fine Gael does NOT want to sell off our electricity network so you clearly don't know what you're talking about. We only want to sell off the companies that operate on the network. There's no reason why both ESB and Bórd Gáis should be in public ownership when they are competing with eachother. I think it's very unfair to the likes of Airtricity for example.

Not only can we raise many billions from the sale of these companies but we can also seriously drive down the cost of electricity in Ireland. Fuel poverty is a major issue in Ireland and it's completely unfair that the poorest can suffer with high electricity bills while unionised semi-state workers line their pockets with six-figure salaries and gold plated pensions.

Fully private ownership of these companies will drive the price of electricity down and we will ALL benefit from cheaper bills and more jobs. Jobs will be plenty if we can keep the price of electricity down. It's a major headache for companies wanting to set up here.

These benefits clearly outweigh the dividend that the state receives. The loss of these millions will easily be matched by renewed economic activity caused by the lower prices.

Any state company that produces a dividend should be held firmly in state hands to protect our future as a soverign nation and any state company that is making a loss should be streamlined in order to make a profit
Keeping all our semi-states does not ensure our future sovereignty. It's quite the opposite. Selling off the ESB and Bord Gáis will keep the IMF off our doorstep!!

down with the smash and grab merchants like the fine gael party........its a sad day when the majority of this country want these idiotic facists in power.
:D
 

Newsy

Well-known member
Joined
Aug 23, 2009
Messages
910
Have we now the highest ESB prices in Europe?

Of course you will have a good service.

Competiveness my ar...........
Nevermind Europe, what about the island of Ireland!!!!

In the (rural) south of the country, esb customer pays 17% more than (rural) north.
 

derekbhoy

Member
Joined
Aug 7, 2008
Messages
21
Fine Gael doesn't want to smash and grab anything. The only pieces our children will be picking up is the national debt. We need to reduce it and selling off non-essential state assets is crucial to making big savings.

Fine Gael does NOT want to sell off our electricity network so you clearly don't know what you're talking about. We only want to sell off the companies that operate on the network. There's no reason why both ESB and Bórd Gáis should be in public ownership when they are competing with eachother. I think it's very unfair to the likes of Airtricity for example.

Not only can we raise many billions from the sale of these companies but we can also seriously drive down the cost of electricity in Ireland. Fuel poverty is a major issue in Ireland and it's completely unfair that the poorest can suffer with high electricity bills while unionised semi-state workers line their pockets with six-figure salaries and gold plated pensions.

Fully private ownership of these companies will drive the price of electricity down and we will ALL benefit from cheaper bills and more jobs. Jobs will be plenty if we can keep the price of electricity down. It's a major headache for companies wanting to set up here.

These benefits clearly outweigh the dividend that the state receives. The loss of these millions will easily be matched by renewed economic activity caused by the lower prices.



Keeping all our semi-states does not ensure our future sovereignty. It's quite the opposite. Selling off the ESB and Bord Gáis will keep the IMF off our doorstep!!



:D
threatening countries with the IMF is nonsense , it actually makes ordinary folk rebel more . they will never come here but if they do you will see serious civil disobedience on the streets , people in hospitals will die un necessarily , schools will be empty , streets will be dark, The whole structure and safety of our country could be at stake ...... a few billion from the fire sale of vital state assests certainly wont keep the imf out . its the waste and the attitude from the few in power that need to be brought in line with the rest before we sell our souls to the devil.A country needs its vital assests kept at its own safety net to operate as a state , sure based on your advice our whole government and state should be controlled from Brussels and just do away with Ireland as a nation.
 

anewbeginning

Well-known member
Joined
Jan 20, 2009
Messages
4,628
We've gone from one of the most competitive economies in Europe to one of the least competitive in recent years. As a nation we have taken our eye off the ball.

It's up to everyone now, including the champagne socialists in the ESB trade unions, to get this country competitive again.

IF ESB workers taking a pay cut is for the common good and increases our competitiveness then that has to happen.

It's time for everyone to put the country first, and that includes the trade unions, who more often than not, put themselves and their own members first and to hell with the country.

And this has nothing to do with our dodgy banking system. We have been losing competitiveness for years now, and it started before our banking meltdown.

High energy costs will discourage FDI and drive indiginous companies out of business.

So either the ESB starts cutting costs, including labour costs and by extension bills to customers, or we should privatise it. It's vitally important that the ESB are not pampered or excluded from cost cutting.

To me having low energy costs is far more important than the dividend ESB pay.
 

ONQ

Well-known member
Joined
May 27, 2009
Messages
476
I've no problem selling off assets, as long as we're paid a good price for the company.
 

DaveM

Well-known member
Joined
Sep 16, 2010
Messages
16,033
From today's online Indo :
ESB highlights dividends to McCarthy - Irish, Business - Independent.ie
There's something for the smash and grab merchants to ponder.
The ESB are paying dividends alright, but it's at the cost of households and businesses.

If you want to see how inflated electricity prices in Ireland are compared to the rest of the EU then have a look at this IAE report.

http://www.iae.ie/site_media/pressroom/documents/2009/Dec/18/Irelands_Energy_Policy_-_Competitiveness_Update_Dec_09.pdf

We pay a 50% premium above average EU electricity prices. In 2009 household prices were highest out of 24 countries covered in the study. Industrial prices were the third highest.
 

Kevin Doyle

Well-known member
Joined
Jan 9, 2007
Messages
11,067
The ESB are paying dividends alright, but it's at the cost of households and businesses.

If you want to see how inflated electricity prices in Ireland are compared to the rest of the EU then have a look at this IAE report.

http://www.iae.ie/site_media/pressroom/documents/2009/Dec/18/Irelands_Energy_Policy_-_Competitiveness_Update_Dec_09.pdf

We pay a 50% premium above average EU electricity prices. In 2009 household prices were highest out of 24 countries covered in the study. Industrial prices were the third highest.
Its money back to the exchequer no matter how you look at it. Money the exchequer would never get where the ESB privatised. Anyway, we all know why ESB prices are so high, driven up by a regulator in the silly attempt to attract in competition. Second highest from second lowest in less than a decade.

The government could reduce prices at the stroke of a pen if it wished, it could order the ESB to operate at break even levels and slash prices accordingly and forgo the dividend.

None of this would be possible of the ESB where privatised, nor would such privatisation reduce the cost of electricity in this state. It has never delivered lower prices anywhere else, what makes people think it would here, especially when taking how small the custumer base is, there is not enough to make the competition argument viable.

This is just a drive to get a highly profitable semi state into the hands of private enterprise.
 

ONQ

Well-known member
Joined
May 27, 2009
Messages
476
I've never understood the logic of raising prices to make it more palatable for competition to come in here, when the object of more competition - low prices - had already been achieved.

I'd actually be happier with a benign monopoly delivering a stable affordable service than having to cope with a race to the bottom on price and the consequent diminution of service that competitive capitalism brings.
 
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