Stormont's Assembly is to hold a special sitting early next week to discuss the overspending renewable heat incentive
The First Minister and Deputy First Minister have asked the Speaker to recall MLA's from a Christmas recess.
Assembly members will be recalled from the Christmas recess to discuss issues which have left the taxpayer facing what critics claim could be a £400 million bill.
A statement from the ministers said: "We have today asked the Speaker to convene a special sitting of the Assembly early next week to address issues surrounding the RHI.
"This will facilitate a full statement to be made by the First Minister to members on the matters of public concern relating to RHI.
"RHI was discussed by the Executive today and ministers around the table underlined the seriousness of the issues involved and the importance of restoring public confidence.
"It was also emphasised that detailed plans are being finalised to significantly reduce the projected losses in the years ahead".
Unlike in the rest of the UK, no cap or payment tier system was placed on the money that could be claimed in proportion to the size of boiler and the hours it was operated.
The DUP released this letter which was allegedly sent to Ms.Foster in 2013 by a 'whistleblower' raising the concerns.
Meanwhile the SDLP Leader, Colum Eastwood said he would table a motion of no confidence to exclude Mrs Foster from office while the RHI is being investigated.
The move is unlikely to succeed in the face of DUP opposition.
"In light of the First Minister's continued failure to answer the most serious questions about the biggest public finance scandal in the history of devolution, it's clear that the matter has to be forced," said Mr Eastwood.
"The SDLP will table a motion of no confidence to exclude Arlene Foster as First Minister while she continues to face these critical questions and until she has accounted for her conduct in relation to the Renewable Heat Incentive fiasco."
He added: "She has lost all credibility and anything less will further erode faith in our institutions. If the First Minister will not stand aside, then the Assembly must act to remove her from office and fully scrutinise this scandal."