The international fund that is completing the €1 billion buyout of Viridian — which owns the Energia and NI Power firms across Ireland — is seeking out more opportunities to acquire energy assets here, in a move that may likely heighten competition in the Republic.

The former chief executive of Bord Gáis, John Mullins, has invested in Irish home technology company Climote and joined the advisory board.

Bahrain-based Arcapita Bank has hired JP Morgan to lead a share listing for Irish energy firm, Viridian Group, two sources familiar with the matter said on Thursday, in a deal that one said could give the firm a value, including debt, of nearly £1bn (€1.25bn).

Gale-force winds have caused overnight power cuts across the country leaving thousands of homes without electricity.

Lower electricity prices generated by renewable energy in the North are not being passed on to householders, the Consumer Council said.