Measures to reduce the cost of the renewable heat incentive (RHI) to the Stormont Executive will be announced by Economy Minister Simon Hamilton in the new year.

Speaking in the Assembly on Monday, First Minister Arlene Foster said that details of the measures “are still subject to considerable further work.”

“We want to be fair to all who responded to the incentive as it was intended to operate and to ensure that our process resolves completely the widespread abuse of the scheme,” she said.

But reports have emerged this week indicating that the executive is considering buying out RHI contracts on both a voluntary and a compulsory basis. This is to cover the costs of buying and installing boilers, and would end 20-year RHI contracts prematurely. Another option is to keep the scheme open and reduce tariff rates to all RHI claimants.

Last week, the First Minster announced that all RHI accredited biomass boilers are to be inspected.

“Another major failing of the scheme is that the necessary aspects of the regulations have not been rigorously enforced,” she said in the Assembly on Monday. However, that inspection process on many NI farms could be frustrated in the short term by ongoing concerns over bird flu, with a confirmed case in Lincolnshire, and poultry units here now effectively closed to visitors.

Meanwhile, owners of biomass boilers accredited under RHI have received correspondence from the Department for the Economy stating that a list of RHI claimants will be made public “in the interests of openness and transparency”.

But claimants can opt out of having their name or business name being published under data protection laws if they contact the department before 10 January. All other details such as boiler location, type, capacity, accreditation date and payments received are to be published regardless, in accordance with the scheme policy.