If you are already fixed then there may be two breakage fees to consider, first for breaking now and second for possibly breaking from your new fix in the future.
The break fee is based on the difference between what it cost the bank to borrow on the day you fixed and the day you breakout of your fixed rate. This rate difference plus how long is left on your current fix and how big your loan is will determine the size of break fee. So the fee will vary day-to-day but the basic idea is if you took out your fixed rate mortgage at the height of the crises you may be facing a relatively larger fee than if you took it out, say, a year ago. It is also possible that there may be no fee associated with breaking out of a fixed rate if banks cost of funds have increased.
The adviser might not have been able to tell you the current break fee as he would not know the cost of funds on the day you were talking to him or the day you had taken your fixed originally. However, you can formally request this information from EBS. Have a look at this
thread to get an idea of what banks charge - there may be a case similar to yours. It's worth nothing that the AIB group, which EBS is a part of, calculate the break fee a little differently to others.
The above breaks you out of your current fixed rate, if you have to do it again with the second rate the same logic applies. The difference between what the two are comes down to timing. We are more or less at the bottom of an interest-rate cycle which means for a fixed-rate mortgage taken out now, the cost of breaking out of it in the future may be small or indeed nothing.
First thing to do is request a letter outlining the break fee. This will help you decide if it is worth your while switching. You will be saving somewhere between €20-€25 a month on repayments but that would have to be weighted up against what the upfront break fee would be. I would also ask if breaking has any implications for the €34K this is currently warehoused. I doubt there are but no harm checking.