Heating oil customers face tough winter despite shake-up promise
The changes would require supplier registration, minimum standards and dispute resolution after 1,700 households were owed compensation for cancelled orders.
- The Government announced plans to regulate the heating oil market, formally accepting recommendations from the Competition and Markets Authority to strengthen industry standards and ensure fair consumer treatment.
- Market volatility following the Middle East conflict sent heating oil costs to record highs, exposing gaps in consumer protection as heating oil users currently lack the price cap safeguards afforded to mains gas and electricity customers.
- Some 1.5 million households depend on heating oil, with officials reviewing industry practices requiring minimum order volumes of 500 litres that force consumers to purchase more than they may need.
- Ofgem will likely regulate the sector in England, Scotland, and Wales, while the Government said it would "engage with the Northern Ireland Executive as they consider these recommendations in parallel."
- Boiler Juice chief executive Tim Buckman argued regulation alone will not reduce prices, calling instead for VAT cuts or price cap extensions, a demand also made by charity National Energy Action.
7 Articles
7 Articles
Heating oil is back above its spring peak in Wales as winter starts, and the suppliers are finally getting a regulator
Around 100,000 Welsh homes off the gas grid buy their heating with fewer protections than anyone on a mains supply. The price fell back over the summer and has climbed again since September, and some customers are still being paid back for cancelled orders.
Heating oil homes to get new protections yet long term help faces the axe
Heating oil customers could get stronger protections after the media reports that the UK Government will accept the Competition and Markets Authority’s recommendation to regulate the heating oil market. The move follows a period of record heating oil prices driven by conflict in the Middle East, during which the CMA found 1,700 households were owed … Continue reading "Heating oil homes to get new protections yet long term help faces the axe"
Heating oil customers facing soaring bills are promised better regulation of the sector by the government.
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