Why Is the ESB Boss Getting Richer as Customers Get Poorer? Episode 849

Niall speaks to Independent Ireland TD Ken O’Flynn about the Government approved decision to award ESB chief executive Paddy Hayes a pay increase of almost €92,000, bringing his annual salary to €410,000.

The increase of 29 per cent was approved by Public Expenditure Minister Jack Chambers following a recommendation from Energy Minister Darragh O’Brien. ESB says the salary reflects the scale and complexity of the organisation and points out that it is the first increase in the chief executive’s salary since 2011. The company reported revenues of €6.73 billion and a pre tax profit of almost €750 million for 2025. Its most recently published detailed liquidity figures also showed approximately €3.1 billion available, including around €1.5 billion in cash and short term deposits, although much of ESB’s funding is required for major investment in electricity networks, renewable energy and infrastructure.

The pay rise comes as a record 322,298 households are in arrears on their electricity bills, representing around 14 per cent, or one in seven, of all domestic electricity customers. More than 186,000 households have been behind on their bills for over 90 days, while the average amount owed has risen to €515.77. A further 185,940 households are in arrears on their gas bills. The latest figures are the highest recorded by the Commission for Regulation of Utilities since its current records began in late 2022.

Niall asks Ken O’Flynn whether it is justifiable to award such a substantial increase to the head of a State owned company while hundreds of thousands of families are struggling to pay for a basic necessity. Is the Government doing enough to reduce electricity prices, should energy credits be restored, and should assistance be targeted directly at households already falling into debt?

With electricity prices still substantially higher than they were before the energy crisis and the colder months approaching, what practical action can the Government take to prevent even more families from being pushed into arrears, threatened with disconnection or forced to choose between heating their homes and paying for other essentials?