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, set for Monday during a Downing Street press conference, will also include criticism of heating oil suppliers accused of price gouging.
The support package is primarily aimed at the estimated 1.7 million UK households that use heating oil, many in rural areas of Northern Ireland, which Starmer visited last week. These households are not covered by Ofgem's energy price cap. Oil prices have surged due to the effective closure of the Strait of Hormuz, a key global oil passage.
Starmer will state: 'It’s moments like this that tell you what a government is about. My answer is clear. Whatever challenges lie ahead, this government will always support working people.' He will also warn suppliers: 'I will not tolerate companies trying to exploit this crisis to make money from working people. If the companies have broken the law, there will be legal action.'
The Competition and Markets Authority has begun a review into the heating oil sector after evidence that some suppliers cancelled or renegotiated agreed deliveries. Ministers are also considering cancelling a planned fuel duty rise in September, with Energy Secretary Ed Miliband stating: 'We will stand by the British people in this crisis.'
