The Energy Minister is insisting he hasn't sold Bord Gáis Energy below value.

The company was sold to a consortium - which includes Centrica, owners of British Gas - for €1.12 billion yesterday, even though the original price was understood to be €1.4 billion.

Pat Rabbitte says the price is a good one - and he says the arrival of a big player into the Irish energy market is a good thing and will increase competition:

Sinn Fein has described the government's decision to sell Bord Gáis Energy as a "betrayal of the company's future potential".

Last month - Minister for Energy Pat Rabbite said he was withdrawing Bord Gais from sale - as bids for the company failed to hit the government’s price target.

Michael Colreavy is Sinn Fein's Energy spokesperson, he says this sale is bad news.

"It's a bad deal for those of us who could see the exciting possibilities for a fully successful, public company like Bord Gáis leading out on the tremendous opportunities presented by renewable energy. The only people for whom this is a good deal, are the shareholders of the consortium, who must be rubbing their hands with glee."