The Finance Minister says the Government is working with energy providers that are recording record profits while consumers are forced to deal with exorbitant prices
At the start of the month concerns were raised over the increase in gas customers who have fallen into arrears.
The Commission for Regulation of Utilities say high gas prices had a "disproportionate" impact on Irish households and businesses as Ireland relies more heavily on gas-generated power.
Speaking on the Neil Prendeville Show on Cork's RedFM Minister Michael McGrath says energy prices need to start falling faster:
"We are introducing a cap on market revenues. And we're also taking money by way of a Solidarity Contribution from fossil fuel companies. So these super profits that are being generated - we are going to take a lot of money from them. The same with the ESB - we've increased the dividend payment to the state. And the commitment we're giving is that we will give all of that money back to consumers".
