The Minister for the Environment has said Ireland could receive up to €2 billion with a windfall tax on energy companies.
Eamon Ryan said he was confident EU countries would reach agreement on implementing new measures in a bid to reduce soaring energy prices.
In Brussels, Minister Ryan said the EU energy council has agreed measures which will allow us to redirect some of the windfall gains in the gas & electricity markets to Irish households and businesses.
“We’ve a good text now, we’ve a good mechanism which will allow us to identify some of the windfall gains that are going to energy companies and to be able to bring them back to help Irish households and businesses to add to what was done in the Budget earlier this week.
“I expect we will get agreement, it will be useful for Ireland,” he added.
Asked about how much it would raise for Ireland, the Green Party leader replied: “One to €2 billion, sort of, is the expectation of what we should expect.
“But that depends on so many different factors – you can’t exactly be clear, but it’s that sort of amount of money.”
Good news. An extraordinary meeting of the EU energy council has agreed measures which will allow us redirect some of the windfall gains in the gas & electricity markets to Irish households and businesses. We are also being asked to agree ways to cut peak hour demand. #Solidarity pic.twitter.com/VJXbCrAScr
— Eamon Ryan (@EamonRyan) September 30, 2022
