Targeting revenues of energy companies to reduce household bills 'could work here'

Energy Minister Eamon Ryan said he supports the European Commission proposal and hopes an agreement will be reached on Friday which will help to cushion the blow for Irish households

The proposal is similar to a windfall tax on profits, but it would target suppliers who do not depend on burning gas to generate power.

Energy Minister Eamon Ryan has said he believes targeting the revenues of energy companies to help to reduce household bills could work in Ireland.

Mr Ryan said he supports the European Commission proposal and hopes an agreement will be reached on Friday which will help to cushion the blow for Irish households.