Sustainability Report 2020

About us

Economic

Natural gas is of key strategic importance to the Irish economy, representing 31 percent of Ireland’s primary energy mix and generating 52 percent of Ireland’s electricity.

In 2020 we delivered a strong financial performance. We had available undrawn loans of €462m and €97m of cash and cash equivalents at December 31st, 2020. This ample liquidity will allow us to continue funding future investment in the gas network. Additionally, when working with debt holders and credit rating agencies, we continue to commit to the climate change agenda and the targets we have set ourselves to 2050.

Return to the Shareholder: In 2020 we supported Ireland’s economy by making a dividend payment of €70m to the Exchequer, including a final special dividend of €23m relating to the sale of the Bord Gáis Energy business.

Investors:
We paid out €17m to investors in interest payments

State Support:
We paid €55m to the Irish & UK governments and regulators in tax, rates and levies

Suppliers:
Our expenses to suppliers for the provision of goods and services in 2020 totalled €79m

Full financial statements can be found in the Ervia Annual Report.

Supporting our customers and Irish society following the impact of COVID-19

The Retail Gas Management Incident Management Plan (RGMIM) was invoked in March 2020, the same day that the World Health Organization declared that COVID-19 had been categorized as a global pandemic. Under the RGMIM a working group comprising Gas Networks Ireland, The Commission for Regulation of Utilities and retail gas suppliers convened to manage incidents that impact the operation of the retail gas market. The first action of the group was to increase emergency credit for Pay As You Go customers. This was implemented in March to assist self-isolating customers to keep their gas on. We also implemented and communicated a changing siteworks process to ensure that essential works were prioritised, however some construction work was restricted, in line with public health guidance. Working with gas suppliers, we designed and implemented a new market process which allowed gas customers in the Small to Medium Enterprise sector to apply for a waiver of service charges in cases where they had been forced to cease operations as a result of COVID-19. The scheme, known as the ‘Supply Suspension Scheme’ operated for 3 months from May to July, with 2,263 applications successfully processed resulting in significant savings for our business customers.