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The new entity - ESB Networks Limited - will remain a part of the ESB group of companies but will be legally and functionally distinct from any other ESB operations.
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 via connection points such as houses, offices, shops, and street lights.
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The system comprises of over 170,000 transformers and almost 150,000 km of distribution networks, overhead lines and underground cables.
Minister Ryan said: "ESB Networks Limited will manage the distribution system in a transparent and non-discriminatory manner. Their creation will add to confidence in the market and promote the development of greater competition."
The new company will have responsibility, as meter operator, for the installation, maintenance and reading of all electricity meters and play a key role in ensuring the rollout of smart meters throughout the country.
"The DSO will also continue to assist the development of renewable electricity projects, many of which are now connecting to the distribution system directly rather than through the transmission system," added the Minister.
(PR/JM)
