A new body is to be responsible for operating and managing the electricity distribution system in Ireland.
Energy Minister Eamon Ryan said the new entity - ESB Networks Limited - would remain a part of the ESB group of companies but would be legally and functionally distinct from any other ESB operations.
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The distribution system is the medium and low voltage electricity network used to deliver electricity to more than two million domestic, commercial and industrial customers through houses, offices, shops, and street lights.
The system includes more than 170,000 transformers and almost 150,000 kilometres of overhead lines and underground cables.
The Minister said ESB Networks would manage the system in a 'transparent and non-discriminatory manner'. He said the creation of the new entity would add to confidence in the market and promote the development of greater competition.
The new company will be responsible for installing, maintaining and reading all electricity meters and will ensure that smart meters are introduced throughout the country.
The Commission for Energy Regulation will review ESB Networks' costs and will continue to review the prices charged to consumers.
The board members of the new company are: John Shine, ESB Networks Executive Director (Chairman); Bernard Byrne, ESB Group Finance Director;
John Redmond, ESB Company Secretary and Head of Corporate Affairs; Luke Shinnors, ESB Human Resources Director; Des Geraghty, Chairman of the Affordable Homes Partnership; Gina Quin, CEO of Dublin Chamber of Commerce.
