Operating profits at the ESB fell by €103 million to €199 million last year due to higher fuel and wage costs, according to the company¿s annual report for 2001.
Details about the company's performance were first reported in The Irish Timestwo weeks ago although the report was only formally published this afternoon.
The fall in profits was recorded despite a €146 million increase in revenues which rose in the period to €2.04 billion, breaking the €2 billion barrier for the first time.
The figures reflect an 8.6 per cent increase in electricity prices in the final three months of 2001, which was the first since 1993.
The company said today that it will pay an interim dividend of €20 million to the State, although group chief executive Mr Padraig McManus said a formula was being sought to decide the future level of dividend to be paid.