Finance Minister Conor Murphy brought the idea to Ministers, but no action has since been taken.
Sinn Féin MLA Caoimhe Archibald also met with the utility regulator on Wednesday, 24 November, stating "it is clear soaring prices are not a blip and gas and electricity bills will continue to rise significantly".
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Calling for further action to address the rising costs, MLA Archibald added: "In other European states measures including VAT reductions on energy bills, slashing of energy surcharges and windfall taxes on generators have been put in place.
"No such measures have been forthcoming in either Britain or the 26 counties.
"Conor Murphy has written to the British Treasury urging a VAT reduction on energy bills while party colleagues in the south have urged the Irish government to do likewise.
"I have also written to the British Chancellor calling for a windfall tax on generators who are seeing increased profits as a result of rising prices, which could then be directed towards fuel payment support.
"It is time both the British government and Dublin government got their heads out of the sand and tackled soaring energy prices on top of other rising costs means for families and businesses."
