rki.news
The UK government is preparing measures to help households most affected by rising energy costs amid the ongoing US-Israel war with Iran, Chancellor Rachel Reeves said. Contingency planning is underway to address every eventuality, though the full economic impact of the conflict remains uncertain.
Energy bills for millions across England, Scotland, and Wales are set to fall temporarily for three months from April under the Ofgem price cap. However, wholesale gas and electricity costs are expected to surge over the summer, prompting calls for targeted government support.
Reeves emphasized that any package would prioritize those most in need while excluding the wealthiest households, contrasting with previous universal measures such as the Energy Price Guarantee. The Treasury is coordinating with the Department for Work and Pensions to ensure assistance reaches vulnerable groups.
In addition, a new anti-profiteering framework for the Competition and Markets Authority will address any companies exploiting price rises. Petrol prices have already reached an 18-month high, while fuel duty rises scheduled for September remain under review amid the ongoing crisis.
The government says these measures aim to protect households, stabilize markets, and prevent excessive financial burden during the energy supply disruptions.