{"id":536184,"date":"2026-07-06T18:51:17","date_gmt":"2026-07-06T18:51:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/536184\/"},"modified":"2026-07-06T18:51:17","modified_gmt":"2026-07-06T18:51:17","slug":"gas-networks-ireland-to-pay-e66m-dividend-to-government-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/536184\/","title":{"rendered":"Gas Networks Ireland to pay \u20ac66m dividend to Government \u2013 The Irish Times"},"content":{"rendered":"

The Government is in line for a \u20ac66 million pay out from the State company that operates Ireland\u2019s natural gas supply networks.<\/p>\n

Gas Networks Ireland (GNI)<\/a>, responsible for the domestic supply systems across the country and an interconnector with Scotland, earned profits after tax of \u20ac146 million last year.<\/p>\n

GNI\u2019s board recommends paying a \u20ac66 million dividend the exchequer this year from profits earned in 2025, according to the company\u2019s annual report, published on Monday.<\/p>\n

The dividend amounts to 45 per cent of its 2025 profits after tax, in line with a policy agreed with Government, says chairman Kevin Toland in the report.<\/p>\n

News of the profit and dividend payment comes as energy industry overseer, the Commission for the Regulation of Utilities, takes the first steps in a process that will determine what GNI can charge between this year and 2031.<\/p>\n

The regulator sought feedback from stakeholders last week in a document highlighting several challenges faced by the gas networks operator as the Republic works towards boosting its use of renewable energy.<\/p>\n

Natural gas is used to generate up to half the electricity used in Ireland every year, while large numbers of domestic and industrial customers also rely on the fuel.<\/p>\n

[\u00a0Gas network charges could increase as customers declineOpens in new window<\/a>\u00a0]<\/p>\n

The board appointed David Kelly, who has 10 years experience with the company, as chief executive in February.<\/p>\n

His predecessor, Cathal Marley, now occupies the same role at national electricity grid operator, Eirgrid.<\/p>\n

Toland thanks Ronan Galwey, the company\u2019s chief financial officer, who stepped in as acting chief executive at GNI last year after Marley left.<\/p>\n

\"\"The 9 per cent VAT rate has been welcomed by restaurants but does the hospitality sector actually need it?\"\"The 9 per cent VAT rate has been welcomed by restaurants but does the hospitality sector actually need it?<\/p>\n

Kelly notes in the annual report that GNI has more than 720,000 domestic and industrial customers.<\/p>\n

GNI last year signed deals with three renewable gas producers, Nephin Renewable Gas, Evergreen Agricultural Enterprises and Carbon AMS, to supply biomethane to the system.<\/p>\n

Government last year introduced an obligation on suppliers demanding that increasing amounts of fuel used for heating come from renewable sources.<\/p>\n

The move is likely to boost production of renewable gas, including biomethane produced from farm waste, in the Republic.<\/p>\n

GNI is also building a facility in partnership with GMC Utilities Group in Michelstown, Co Cork, that will allow the supply of large quantities of biomethane into its network.<\/p>\n

The company is also working on cutting greenhouse gas emissions from its own network, including by converting key parts of its Moffat interconnector, which runs from Scotland, to use electricity instead of gas.<\/p>\n","protected":false},"excerpt":{"rendered":"The Government is in line for a \u20ac66 million pay out from the State company that operates Ireland\u2019s…\n","protected":false},"author":2,"featured_media":536185,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[227895,59412,24806,3749,39436,227896,426,6285,61,94336,60,227897,9567,72001,227898,227899,225462,194324,43,9085,94337,131637,227900,89,17318,82,212221,2717,58636,106382,80,17331],"class_list":["post-536184","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ireland","tag-aromatherapy-oil","tag-bottle","tag-chemical","tag-chemistry","tag-drop","tag-dye","tag-food","tag-horizontal","tag-ie","tag-industrial-objects-equipment","tag-ireland","tag-jar","tag-laboratory","tag-liquid","tag-massage-oil","tag-medical-sample","tag-medical-test","tag-medicine-and-science","tag-news","tag-nobody","tag-objects-equipment","tag-perfume","tag-pipette","tag-research","tag-scented","tag-science","tag-scientific-experiment","tag-scientist","tag-seasoning","tag-technologist","tag-technology","tag-winemaking"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/536184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=536184"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/536184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/536185"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=536184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=536184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=536184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}