The firm is also proposing a dividend of €3m to the exchequer.
Eirgrid Chairman, John O'Connor, welcomed the figures.
He said: "Our fundamental purpose is to deliver safe and reliable power to the whole island of Ireland, at the most competitive prices possible. Our Annual Report shows that this has been successfully achieved during 2014. We have also demonstrated, by our actions throughout the year, that we are ready to embrace change in how we go about our business, both internally and externally.
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"Of particular significance is the East West Interconnector, which brought significant benefits during its first full year in operation, including downward pressure on wholesale electricity prices.”
EirGrid Chief Executive Fintan Slye said, “2014 was a landmark year for EirGrid. We made considerable progress on some of our key projects and also began the process of working more closely with individuals, communities, businesses and organisations that are affected by them.
"While managing Ireland's transmission system 24 hours a day, 365-days-a-year, EirGrid must also look to the future, developing the grid to ensure that electricity supply will meet demand for decades to come."
(CD/MH)
