Readout of ministerial meeting with MPs on Heating Oils

Wednesday, 11 March 2026 15:50

Financial Secretary to the Treasury, Lord Livermore, and the Minister for Energy, Michael Shanks, this morning met with MPs at 11AM to update on the rising cost of heating oil. Lord Livermore and Minister Shanks confirmed that the Chancellor has this morning written to the Competition and Markets Authority (CMA), requesting that they are vigilant across heating oil prices and recommend if they think further regulation of the sector is...Request free trial

Financial Secretary to the Treasury, Lord Livermore, and the Minister for Energy, Michael Shanks, this morning met with MPs at 11AM to update on the rising cost of heating oil.

Lord Livermore and Minister Shanks confirmed that the Chancellor has this morning written to the Competition and Markets Authority (CMA), requesting that they are vigilant across heating oil prices and recommend if they think further regulation of the sector is required.
The Energy Secretary and Energy Minister have also spoken to the CMA, and the CMA confirmed that they will not hesitate to take action to protect families.
Ministers were clear that this government will not hesitate to take action where the CMA finds evidence of price manipulation, and will not tolerate profiteering or unfair practices.
We are also asking suppliers to work with consumers to ensure vulnerable households are not penalised by any restrictions on delivery sizes. We will continue to keep this under active review.
We will issue updated guidance to councils on the use of the Crisis and Resilience Fund and will work with the devolved governments to enable them to deliver equivalent guidance for their schemes should they wish to.
We will ensure that this support is available for people in their areas to alleviate real hardship. We will continue to monitor the fund, and act if local authorities tell us that this support isn't sufficient.
The Minister for Energy said he has written to the heating oil industry about price increases for households and businesses, making clear that customers must be treated fairly and that price manipulation will not be tolerated. He has also met twice with the trade body, who have reiterated their support on this too.
Minister Shanks also confirmed that there is a strong supply of heating oils across the UK – and that households should feel reassured that the UK retains access to secure and reliable sources.
He confirmed that we will continue to actively work with the industry to understand and tackle distribution issues, which have been driven by increased demand.
We understand that this is a significant issue for households in Northern Ireland. Minister Shanks has been in contact with the Northern Ireland Secretary and the Executive from an early stage - speaking to the Minister Archibald last Wednesday on this topic.