ESB CEO Paddy Hayes pay rise
Analysis based on 7 articles · First reported Aug 04, 2026 · Last updated Aug 04, 2026
The pay increase for the CEO of a state-owned utility is unlikely to directly affect ESB's market position or electricity prices, as it is a minor cost within a large organization. However, it may draw public and political scrutiny over executive pay in state bodies, potentially influencing future compensation policies and public perception.
The Electricity Supply Board (ESB), Ireland's state-owned electricity utility, has increased the annual salary of its chief executive, Paddy Hayes, by €91,917 (29%) to €410,000, effective July 6, 2026. The increase, the first since 2011, was sanctioned by Minister for Public Expenditure and Reform Jack Chambers on July 6, following a recommendation from Minister for Climate, Energy and the Environment Darragh O Brien. The decision was conveyed to ESB chairperson Terence O Rourke on July 20. The pay rise follows a review by the independent Ireland — Senior Posts Remuneration Committee and is part of a broader government initiative that has approved pay increases for 19 CEOs of commercial state bodies, with four more proposals pending. ESB reported a pre-tax profit of €749.7 million on revenues of €6.73 billion in 2025, with employee numbers rising to 9,968. The new salary brings Hayes's 2026 salary and pension package to €419,500, excluding company car benefits.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard