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Full: You lose all Energy. For 5...9...10 seconds, target foe suffers -1...3...3 Energy degeneration, and you experience +1...3...3 Energy regeneration.
Concise: You lose all Energy. Target foe has -1...3...3 Energy degeneration and you have +1...3...3 Energy regeneration (5...9...10 seconds).
Keep in mind that Ether Lord is not as much a skill used to gain energy as it is one to deny it. Even at 16 Inspiration Magic, you will only regenerate an extra 5 energy - and this is after you've lost all the energy you started with.
This skill realistically requires 8 or more points in Inspiration Magic to be effective, since lower amounts are extremely short in duration, or provide almost no energy drain/gain.
Your energy will drop to 0, but energy can be maintained by, for example, switching to a -energy weapon set before casting Ether Lord, then switching back to a normal weapon set.