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Government vows to combat price gouging amid energy crisis

Mar 15, 2026, 3:53 PM20
(Update: Mar 17, 2026, 11:58 AM)
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Government vows to combat price gouging amid energy crisis

  • The ongoing war in Iran is causing significant volatility in the global energy market.
  • Ed Miliband has indicated that the government is prepared to intervene against unfair pricing practices.
  • Government support for low-income households using heating oil is anticipated to be announced soon.
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In light of rising energy costs in the UK, primarily triggered by the ongoing war in Iran, the energy secretary Ed Miliband has pledged to advocate for consumers facing increased bills. Following projections that show potential annual increases of up to £250 for household energy bills, particularly among customers reliant on heating oil, Miliband emphasized the government's commitment to intervene in unfair pricing practices. He remarked that the considerable geopolitical instability has placed undue financial pressure on the British public. Specific strategies for support, especially for heating oil users, are expected to be unveiled shortly, as low-income households remain vulnerable amidst this crisis. The ongoing conflict has further exacerbated an already precarious energy market, underscoring the urgent need for effective government action to stabilize rising energy costs, especially as the forecast for household bills is anticipated to rise more than 10% from July due to surging wholesale prices, according to analysts at Cornwall Insight. Miliband also indicated that the government will exploit existing oil and gas licenses but stressed that new licenses will not directly lower energy bills. The debate surrounding government intervention has reignited calls from industry leaders like Energy UK for a rapid assessment task force to identify the most vulnerable households requiring immediate assistance. The situation remains volatile, and stakeholders argue that timely and well-targeted interventions are essential to mitigate the rising costs currently facing UK households.

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