During a visit to ESB's headquarters in Dublin, European Investment Bank Vice President Ioannis Tsakiris praised the collaboration between the EIB and ESB, highlighting the critical role of investments in creating a smarter and more efficient energy system.

He commended the progress of Ireland's National Smart Metering Programme, which is revolutionising energy management for nearly two million households, farms, and businesses by enabling them to track consumption and adopt more efficient energy tariffs.

The EIB is contributing €450 million to support the programme, aimed at reducing carbon emissions and promoting renewable energy use across Ireland.

Paul Stapleton, Chief Financial Officer of ESB, who hosted Vice President Tsakiris, highlighted the critical role that smart meters play in achieving Ireland's renewable energy ambitions. "EIB funding has been instrumental in helping deliver a more flexible, responsive energy system for Ireland. Smart meters are a key enabler in making more efficient use of Ireland’s renewable resources, allowing consumers to play an active role in reducing carbon emissions while enhancing their ability to manage energy use effectively. Together, we are building a future-ready energy network that benefits both the environment and our customers."

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"The EIB is proud to support the National Smart Metering Programme, which represents a significant step forward in Ireland's energy transition. By working closely with ESB, we are helping Irish energy customers fully benefit from a smart energy system that enables better energy management, increased use of renewable energy, and a reduction in fossil fuel dependency. This partnership reflects the EIB’s commitment to investing in projects that drive the decarbonisation of Europe’s energy sector," said Ioannis Tsakiris, European Investment Bank Vice President.

The National Smart Metering Programme is providing Irish consumers with access to more detailed information about their electricity usage, enabling them to reduce overall consumption, lower costs, and cut carbon emissions. Smart meters provide precise, up-to-date information on energy usage, helping to better manage energy demand and encourage a shift away from fossil fuels.

Ireland's National Smart Metering Programme- is part of the country’s wider energy strategy to meet ambitious climate targets, enhance the flexibility of the grid, and integrate a growing share of renewable energy sources into the national energy mix.