FOSSIL FUEL FIRMS FACING WINDFALL TAX

Ryan's legislation to help consumers pay bills

- FERGHAL BLANEY, LOUISE BURNE

FOSSIL fuel energy firms could be hit with a windfall tax in the coming weeks under new legislation set to be agreed by Cabinet.

This would be a boon for households because the levy on all energy firms, renewable and fossil, is set to deliver between €280million and €600million to the Exchequer.

And the Government has promised this will be set aside to help consumers pay the higher energy bills that have now become the norm.

It was expected the cash would make its way to State coffers by September.