EU agrees to winfall levy on energy companies which could generate €2 billion for Ireland

Green Party leader Eamon Ryan speaking before this morning's meeting of EU energy ministers. Green Party leader Eamon Ryan speaking before this morning's meeting of EU energy ministers. ENERGY MINISTER EAMON Ryan says a windfall levy on energy companies is one of “several pieces in the jigsaw” that is required for this “incredibly difficult time”.

Under the deal, these companies will be asked to give back a share of their profits above the average of the past four years, according to officials at France’s energy ministry. He told RTE that there are “mechanisms” wherein people can “go to the Social Welfare Services for additional supports”. On Tuesday. the Government announced €600 worth of energy credits for households as part of its €11 billion Budget measures.Meanwhile, Minister Ryan told Morning Ireland that “you can used the word cap in a different way”, adding: “The windfall profits , that’s what we need to cap.

'He added: “The unfair profits, caused by a war and not by any action of any companies, do need to be brought back.”'

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