Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

The ESB recorded a massive profit, of €847 million, as she said, so we will be taking a large part of that from it, both in terms of the tax on its profits - let us not forget that - and also through the special dividend we are taking this year. We will ring-fence that money to help families and businesses with the high cost of energy, and people have my commitment on that. I do not believe we should reduce the profits of the ESB to zero, for the specific reason that it is profits that build its balance sheet and it is on the basis of that that the ESB invests further. We do need to invest in renewable energy, in the grid and in upgrading our energy infrastructure, and if there are no profits, there is not a balance sheet to support that investment. If the Deputy is committed to climate action and energy security, she will understand the reasons for that.

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