The growing profits of non-gas electricity providers are set to be capped, under new EU wide plans.
The Public Expenditure Minister has slammed proposals by Sinn Fein to introduce a €1.6 billion winter subsidy to energy companies, describing it as handing over 'a blank cheque' to providers.
Instead, the government is focusing on revenue caps and a 'solidarity contribution' from some companies, to help curb spiraling costs for households.
Michael McGrath says the money generated will go back into funding cost-of-living supports.
