ESB is to re-name its energy supply businesses Electric Ireland.
The ESB says the move is one of a number of conditions laid down by the energy regulator to allow ESB to set its own prices in the domestic electricity market.
The new name will replace its two existing brands, ESB Customer Supply and ESB Independent Energy, which supply power to homes and businesses. Customers will see the new name on their bills from April 2011. ESB Networks and ESB International will retain their names.
Chief executive Padraig McManus said the company was looking forward to receiving approval to compete in the residential electricity market early next year, and to entering the residential gas market.
ESB says the new brand will be introduced in a 'cost-effective' manner, and will have no impact on prices to consumers. It is estimated that the move will cost between €6m and €8m.
Under a plan published by the regulator earlier this year, ESB would be allowed to set its own electricity prices after it had changed the names of its supply businesses, and when its share of the market had fallen to 60%.
