Prime Minister Keir Starmer is set to announce tens of millions of pounds in support for households affected by rising energy prices due to 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.
Oil prices have surged following the effective closure of the Strait of Hormuz, a key global oil route. The impact is being 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 say: '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.' The Competition and Markets Authority has begun a review into the sector after evidence of cancelled or renegotiated deliveries.
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.'
