ESB gives CEO 29% pay rise to bring salary to €410,000
The ESB has given its chief executive Paddy Hayes a pay increase of just under €92,000 after receiving Ministerial approval to do so.
The ESB has elevated its chief executive Paddy Hayes' salary by nearly €92,000, following Ministerial approval, to €410,000 annually. This increase of 29% from his 2025 salary of €318,083 marks the first pay rise for the ESB CEO since 2011. The decision, approved by Minister for Public Expenditure and Reform Jack Chambers and the Minister for Climate, Energy and the Environment Darragh O'Brien, reflects the complexity and scale of ESB's operations, which generated a pre-tax profit of €749.7m on revenues of €6.73 billion in 2025.
The company's spokesperson emphasized that this increase aligns with ESB's strategy of supporting Ireland's social and economic development, delivering infrastructure, and connecting renewable energy. The new salary, effective from July 2026, brings Hayes' total compensation for 2026 to €363,000, including a €56,500 contribution to his pension, bringing the combined salary and pension package to €419,500.
This is part of a broader trend of pay increases sanctioned for 19 other CEOs of commercial state bodies, with additional proposals under consideration for RTÉ, TG4, Coillte, and Drogheda Port.
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