Redistributing energy profits to consumers will not cut bills in short term, says Ryan

Environment Minister Eamon Ryan says the European Commission's proposal is 'the right one'. Picture: Brian Lawless

Irish households are unlikely to see any reduction in soaring energy costs in the short term even if EU ministers agree to redistribute excess profits from providers back to the consumer, the environment minister has said

Eamon Ryan made the comments ahead of an emergency summit of EU energy ministers in Brussels tomorrow, which will examine proposals designed to tackle the escalating crisis.