Bord Gáis earns €72.5m profit as it prepares to bring two new gas-fired plants onstream

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Profits at gas and electricity supplier, Bord Gáis Energy dipped to €72.5 million last year, the company said on Thursday.

Bord Gáis Energy, part of British group, Centrica, supplies around 730,000 homes and businesses while also investing in conventional and renewable power.

The profits of €72.5 million represent a drop of less than 2 per cent on the €75 million it reported for 2024.

Bord Gáis earned just €2 million at the height of the energy crisis in 2023 after it decided not to pass on soaring gas and electricity costs to customers.

The business plans to start supplying electricity from two new gas-fired power plants in Athlone and Dublin later this year. Each is capable of generating 100 mega watts (MW) of electricity and are designed to supply power to the national grid when renewables are either not available or cannot meet demand.

The company is seeking planning permission for a bigger power plant, with a capacity of 334MW, in Co Galway.

Bord Gáis Energy dubbed these projects “significant investments” that would boost the Republic’s energy security. It said it is spending €1 billion on power plants, renewables, customer service and other ventures.

The business already operates a 400MW electricity plant in Whitegate, Co Cork.

Last year, it bought Swyft Energy, which sells solar panels and equipment to homes, farms and businesses.

The company also signed deals with renewable energy businesses with the capacity to produce 629MW of electricity. Those agreements mean Bord Gáis will be one of the Republic’s biggest buyers of solar power, it noted.

Bord Gáis Energy chairman, Dave Kirwan, said the company, originally established by the State to exploit offshore natural gas finds, would celebrate 50 years in business in 2026.

“Our 2025 results reflect disciplined operational performance alongside accelerated delivery of our infrastructure programme and net-zero growth strategy,” he said.

Kirwan added that the company’s investment programme would enhance the Irish energy system and allow it to take on large quantities of renewable electricity.

Profits at the Irish company’s parent, Centrica, slumped 40 per cent last year to £814 million sterling (€935 million).