Stormont Economy Minister Caoimhe Archibald engaged in discussions with UK and Irish counterparts Wednesday regarding escalating fuel prices, triggered by recent military action in the Middle East. The meetings, held with UK Energy Minister Michael Shanks and Irish Energy Minister Darragh O’Brien, focused on the impact of the Israeli/US attack on Iran and the subsequent surge in home heating oil and fuel costs.
Archibald stated she received assurances from Shanks that there is no immediate threat to fuel supply. However, she expressed significant concern over the rapid price increases, reporting a rise of over 60% in home heating oil costs since last Friday. “Earlier today I spoke with both the Irish and British Energy Ministers about the price hikes in home heating oil and fuel which has followed the Israeli/US attack on Iran,” she said. “Minister O’Brien shared my concerns on the rising costs of home heating oil across the island, and outlined his plans to engage with the energy sector. Minister Shanks provided reassurance that there is no short-term risk to supply.”
The Minister emphasized the unacceptability of unjustified price hikes and announced she has directed her department to remind suppliers and retailers of their responsibility to maintain transparent and reasonable pricing. She likewise indicated her department will collaborate with relevant agencies to monitor pricing practices.
While acknowledging the welcome reduction in natural gas tariffs announced earlier in the week, Archibald highlighted that over 60% of households in Northern Ireland rely on home heating oil, making them particularly vulnerable to the current price surge. She pressed Shanks for support measures similar to those implemented by the British Government following the Russian invasion of Ukraine. “In my conversations with Minister Shanks I made a firm case for people to be supported through this energy shock, similar to the way in which support was provided by the British Government following the Russian invasion of Ukraine,” she stated.
Archibald noted that Shanks committed to reviewing the situation as it evolves, recognizing the volatile nature of the conflict and its potential for prolonged impact. The Economy Minister’s office confirmed the constructive nature of the engagement with both governments, but did not detail specific commitments beyond the ongoing review by the UK government.
