Prime Minister Keir Starmer is expected to announce tens of millions of pounds in support for households affected by rising energy prices, driven by the conflict with Iran. The announcement will be made during a press conference at Downing Street on Monday, where Starmer will also criticise heating oil suppliers for price gouging.
The support package is primarily aimed at the estimated 1.7 million UK households that use heating oil, many of which are in rural areas, including Northern Ireland, which Starmer visited last week. These households are not covered by Ofgem's energy price cap, leaving them vulnerable to price spikes.
Oil prices have surged due to the effective closure of the Strait of Hormuz, a key passage for global oil supplies. The impact is felt at petrol stations and by heating oil users. The government will provide help in England via councils using the new crisis and resilience fund, while devolved administrations in Scotland, Wales, and Northern Ireland will receive funding to deliver support.
Starmer will also address concerns about heating oil suppliers, following a warning from the Competition and Markets Authority (CMA) that some suppliers have cancelled or renegotiated agreed deliveries. The CMA has launched a review and written to suppliers for more information. Starmer stated: 'I will not tolerate companies trying to exploit this crisis to make money from working people.'
Ministers have not ruled out cancelling a planned fuel duty rise in September. Energy Secretary Ed Miliband told the BBC: 'We will stand by the British people in this crisis, and we’ll do what it takes to do that.'
