The Labour Party has criticised moves to privatise Bord Gais. Its spokesman on public enterprise, Mr Emmet Stagg, said the firm's track record had demonstrated that publicly owned companies could be crucial to energy transmission and supply.

"In Bord Gais we have a blue-chip company with an impressive investment programme ready to be rolled out over the coming years," said Mr Stagg. "The Government should actively support that expansion programme and abandon its plans for privatisation."

Mr Stagg said the Government was fundamentally opposed to the idea of public ownership or public enterprise.