Emergency help for poorer households facing rising energy bills due to the war in Iran is to be unveiled by Prime Minister Sir Keir Starmer.
The government will provide “targeted” support for families reliant on heating oil, the cost of which has increased by 80% in a week. The prime minister is also threatening legal action, potentially including fines, against suppliers accused of exploiting the crisis.
“It’s moments like this that share you what a government is about,” the prime minister is expected to say at a news conference in Downing Street. “My answer is clear. Whatever challenges lie ahead, this government will always support working people. That is my first instinct – my first priority – to help you with the cost of living through this crisis.”
The PM will also address concerns that some suppliers are cancelling heating oil orders before then increasing prices.
This crackdown follows a visit by the prime minister to Northern Ireland last week, where heating oil is a primary source of heat for many households.
Chancellor Rachel Reeves stated on Saturday that “targeted” support is planned for poorer households, adding that a universal bailout would be unaffordable. She said, “I’ve found the money and we’ve worked through with MPs and others a response for people who are not protected by the energy price cap. We are giving greater support to those who really need it.”
Energy Secretary Ed Miliband said on Sunday that Labour will “fight people’s corner” during the conflict and that the party “will not tolerate price gouging” or “unfair practices” from petrol retailers and heating oil companies.
Downing Street sources claim the PM is prioritizing the national interest and working with international allies for a swift resolution to the war, believing This represents the quickest way to alleviate financial pressures on working people. “We will continue to work towards a swift resolution of the situation in the Middle East,” the PM will say. “Because there’s no question that ending the war is the quickest way to reduce the cost of living.”
Frequently Asked Questions
What support is being offered?
The government says it will provide “targeted” support for families that rely on heating oil.
How much have heating oil prices risen?
The cost of heating oil has risen by 80% in a week.
What action is the government taking against suppliers?
The prime minister is threatening legal action, which could include fines or other financial penalties, against suppliers who “rip off” customers.
As the situation in the Middle East continues to evolve, what impact will a prolonged conflict have on household energy costs?