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Windfall tax on energy companies is 'good for Ireland', says Martin

Windfall tax on energy companies is 'good for Ireland', says Martin

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.

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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.

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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."

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As reported by the Irish Examiner, Mr Martin sees the overall benefit as one to alleviate the pressure on Irish households.

 

 

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