Government may be asked to pay energy firms despite soaring profits

Senior Government sources were keen to stress that the plan would see retail energy firms helped due to concern about the amount of money they have to keep as collateral on wholesale gas prices.

The Government could be asked to give tens of millions of euros to retail energy companies in a bid to stabilise the sector, despite soaring prices and record profits.

The optics of any financial assistance for energy companies would be bad for the Government at a time when half of households are facing crippling bills.