ESB's €8m rebrand for deregulated market
ESB WILL rename its energy supply businesses as it gets ready for a deregulated market place next year.
In a rebranding that could cost up to €8m, 'Electric Ireland' will be used from April next year after the company was ordered to rebrand its retail business by the Commission for Energy Regulation last spring.
Rebranding was one of a number of conditions imposed by the CER in order for ESB to be allowed compete in a deregulated electricity market.
The new name will replace ESB's existing supply brands -- ESB Customer Supply and ESB Independent Energy -- which supply electricity to residential and business markets.
ESB Networks and ESB International will retain their current brand names and identities.
Electric Ireland will appear on ESB customer bills and communications from April. The two brands will be side by side for the rest of the year.
ESB chief executive Padraig McManus said the new brand was a step forward for the company.
"ESB is looking forward to securing regulatory freedom to compete in the residential electricity market in early 2011 and to entering the residential gas market," he said.
"We will introduce this new brand in a cost-effective and practical manner and plans to communicate 'Electric Ireland' to customers, through its ongoing marketing and sponsorship programmes," he added.
A spokesman said the rebranding would cost in the region of €6m to €8m but, echoing previous comments from energy minister Eamon Ryan, he said that would include the new entity's overall marketing budget.
"This will not lead to higher prices for consumers," he added.