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Sun, 15 Mar 2026

Sun, 15 Mar 2026 We will intervene on energy bills if necessary, says Miliband

Oil and gas prices have surged due to the US-Israel war in Iran, with fears over the cost of living.
Energy Secretary Ed Miliband has warned that the government will take action if necessary to protect people from rising energy costs due to the conflict in Iran. He stated that the government will "stand by the British people" and take measures to intervene on fuel duty and energy bills if needed. The UK is preparing for various eventualities amid the global economic uncertainty caused by the US-Israel war in Iran, with economists warning of a possible impact on cost of living. Chancellor Rachel Reeves is expected to announce a support package this week for households struggling with higher heating oil costs. Petrol prices have reached an 18-month high, prompting Prime Minister Sir Keir Starmer to warn that his government will "step in" if fuel companies engage in price gouging. Energy Secretary Miliband has hinted at maintaining the current freeze on fuel duty until September. However, he also criticized petrol retailers for "persistently high" profits and weak competition, and warned of potential intervention by the Competition and Markets Authority (CMA). Miliband emphasized that the government will prioritize the British people's interests over those of vested interests, stating: "The thing I learned from previous crises is that the British people expect us to be by their side." The energy secretary also dismissed calls for new oil and gas licences in the North Sea, highlighting that international markets set gas prices regardless of the source. Meanwhile, opposition MPs have called on the government to take more action to reduce energy bills immediately.