ESB unit to cut €150 million from businesses’ energy bills

State-owned ESB’s Smart Energy Services division says it will save 300 Irish and British businesses €150 million on their energy bills between now and 2020.

The division funds, manages and runs energy-saving projects for businesses that use large amounts of energy.

It has cut more than €55 million in costs for Irish and British companies over the last two years.

John Walsh, head of ESB'S Smart Energy Services division, predicted on Monday that, in response to demand from businesses in both countries, it would aid them in saving more than €150 million from their bills.

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"Since its launch in 2016, Smart Energy Services has gained considerable interest from companies with high energy demand and has become a real driver of growth for the overall ESB group," Mr Walsh said.

ESB also announced that it will spend €15 million from a separate fund on energy-management and efficiency projects in 2018 that will help guarantee big companies savings of up to 60 per cent on their energy bills.

The company helped Tesco save 25 per cent in energy costs in its 148 stores in the Republic.

The group also aided fellow State company DAA, the Dublin and Cork airport operator, cut energy spending by a third.