Green Party leader Eamon Ryan has said the energy market is broken and it is impossible to predict what might happen.
He made the comments when asked if householders might face bills as high as €6,000 a year, as the Cabinet has been warned.
However, he added the Government was prepared for all eventualities with speedy and targeted responses.
Speaking at his party's think-in in Ennistymon in Co Clare, the Minister for the Environment, Climate, Communications and Transport said the Government will "have to go further" than the €200 energy credit given to householders earlier this year, given energy prices have doubled.
He said there will be a series of credits into 2023 to assist people with spiralling bills.
Mr Ryan predicted Ireland would receive "billions" when the EU reaches agreement on redistributing excess profits from energy providers, and this would be used to assist householders and businesses.