An EU deal on gas prices will not see an immediate reduction in energy prices for Irish householders, according to Micheál Martin.
The Taoiseach has said that the revenue from a windfall tax on energy companies should allow the Government to be able to help people further with increased costs next year.
Taoiseach Micheál Martin has said revenue from a windfall tax on profitable energy companies will come on stream from early next year and could further help households with soaring bills.@ciaraphelan_ reports.https://t.co/wBjKJ7RGzY
— Irish Examiner (@irishexaminer) October 21, 2022
The comments were made as Mr Martin attended the second day of a summit of EU leaders in Brussels.
An agreement was reached in the early hours of Friday morning to place a cap on the wholesale cost of gas in a bid to reduce energy prices.
Speaking at the summit, the Taoiseach said "A stable gas market is good for everybody."
He added "It is good for Ireland. We export into the European market quite significantly. We see this as progress.
"Our prices are lower than some across Europe, so there may not be an immediate impact other than to say that any stabilisation of the gas market ultimately benefits us."
As reported by the Irish Examiner, Mr Martin sees the overall benefit as one to alleviate the pressure on Irish households.
