The Ireland energy system is managed, developed, and improved by the EirGrid Group.

Group profit before tax decreased to €71.2 million from €114.9 million in 2022 as a result of timing discrepancies with regulations and greater operational expenses that reflected the growing size and complexity of the company.

Management estimated the underlying profit for 2023 to be €40.6 million, up from €26.3 million in 2022, when over and under recoveries were not taken into account when reporting profit was calculated.

They added that in subsequent years, subscribers of Transmission Use of System (TUoS) will receive a refund of the associated over-recovery in the form of lower prices.

The business wants to provide the government a dividend of €4 million, the same as it did last year.

Ireland's consumption peaked at 5,544 MW, and additional capacity was added to the system, including 300 MW of solar, 150 MW of wind, and 75 MW of batteries.

The term “SNSP” limit refers to the maximum amount of renewable energy that may be used to power the system simultaneously.

After 512 hours of system operation over 70% SNSP during this time, the limit was raised to 75%.

The first Offshore Renewable Electricity Support Scheme auction, which will be conducted on behalf of the government, and the technical and financial agreements agreed for the delivery of the Celtic Interconnector in November 2022 were two other important themes from the report.

“EirGrid continues to deal with the dual challenge of decarbonising the electricity system to meet the Government's targets for 2030 and beyond, while at the same time ensuring the security of supply,” stated Brendan Tuohy, head of the EirGrid Group, in reference to the study.

“I'm happy to announce that we had a very successful year, meeting the government's climate goals by operating the electricity system safely and securely in spite of difficult circumstances and by advancing key elements of our 2020–2025 EirGrid Strategy.”