The European Commission has approved the sale of Bord Gais Energy.

The government is selling the energy company for €1.1 billion to a consortium, including British energy firm 'Centrica'.

The deal had been examined by European competition regulators, given the large commercial presence Centrica has in the UK.

However authorities in Brussels have now ruled that there are no competition concerns and have said the takeover can continue as planned.

The deal includes the takeover of Bord Gais' electricity and gas supply business

It is expected to close in the coming weeks.

Bord Gais workers are in line for payments averaging €4,000 as part of the sale of the company.

Newstalk learned previously that the payments were negotiated by management and unions representing the workers at its energy division who are transferring out of Bord Gais following the sale.

The proposals hammered out at the Labour Relations Commission (LRC) ensure that workers' current salaries and pensions will be protected.

The Energy Minister Pat Rabbitte has said the price is a good one - and that the the arrival of a big player into the Irish energy market is a good thing and will increase competition.