AQW 41722/22-27

Ms Claire Sugden
Independent
East Londonderry

Tabled Date: 03/03/2026
Answered On Date: 27/03/2026
Priority Written: No

Question:
To ask the Minister for the Economy to detail (i) any recent engagement her Department has had with the Utility Regulator regarding increases in home heating oil prices; and (ii) any actions arising from those discussions.

Answer:

I am very concerned about the impact of recent rises in oil prices on households and businesses here due to the conflict in the Middle East.

I met with the Utility Regulator, the Consumer Council, heating oil and natural gas representatives on 5 March to discuss energy prices.

While home heating oil is sold in a competitive but unregulated retail market and does not fall within the Utility Regulator’s statutory remit, my Department has ongoing engagement regarding potential impacts on gas and electricity prices.

I spoke to the British Minister for Energy Consumers, Martin McCluskey on 14th March, he told me that the Competition and Markets Authority (CMA) is conducting a formal study of the oil retail market. This was formally launched on Friday 20th March and is expected to take around 3 months.

I met with the CMA on Thursday 19th and assured them my officials will provide data to support this study. I will carefully review any recommendations from the findings of this study.

The Consumer Council provides invaluable information for consumers by monitoring heating oil prices and publishing weekly average prices. Consumers are encouraged to use its website to compare suppliers pricing and find information on oil buying clubs and Fuel Stamp schemes.