Written Statement: Rising energy costs in response to the conflict in the Middle East

In response to the conflict in the Middle East we have seen the cost of oil and gas increase which is having a consequential impact across a number of sectors of the economy. I am grateful for the international response including the release of unprecedented oil reserves from the International Energy Agency and wider action taken by the UK Government to maintain secure energy supplies. The UK continues to have robust energy supplies.

I fully recognise the concern from consumers and the efforts of industry to fulfil customer needs during this time of uncertainly. The First Minister has written to the UK Government welcoming the discussions being held with industry and the reiteration of supplier responsibilities for fair treatment to customers in line with consumer protection and competition law requirements. I welcome the review by the Competition and Markets Authority following concerning reports from consumers who rely on heating oil. I know a number of constituents in Wales have been raising concerns on the issues covered in the review including the cancellation of existing orders and new quotes offered at considerably higher prices. 

We have also called for the UK Government to take action to support those households where the energy price cap mechanisms do not provide sufficient protection against rising prices, which includes those unable to access the gas network. For businesses, we have asked the UK Government to keep under review the existing arrangements in place to support with energy costs and be ready to implement additional measures to help businesses with higher energy costs should the impact of high energy costs persist. 

I would urge anyone worried about the price of heating their homes to contact our free Nest Energy Advice service for help and support.  This service can also signpost them to other help such as Welsh Government’s Discretionary Assistance Fund and the Fuel Bank Foundation who provide one off payments for fuel for those in need.