What comparative assessment he has made of levels of costs for heating oil users compared to mains gas and electricity customers, in the context of price increases following the Iran conflict.
The Department keeps energy prices and affordability under close review across all fuels. Gas and electricity customers benefit from the energy price cap. This is already fixed for April to the end of June and limits the unit prices suppliers can charge for default tariffs and helps smooth the impact of wholesale price movements. Heating oil users are not covered by the energy price cap and are therefore more exposed to short‑term price volatility than mains gas and electricity customers. Recent price reflect instability in the Middle East, which has affected global price expectations rather than UK physical supply.Following discussions with the Competition and Markets Authority, we welcome its comprehensive examination of the heating oil industry, and we are working closely with the CMA to understand their findings and develop options to increase consumer protections in this sector, including potential regulatory measures.