UK Ministers Plan Energy Bill Shield Amid Iran Crisis

0:00On March 5, U.K. ministers are now talking about steps to shield households from jumping energy bills tied to the escalating war in Iran. Oil and gas prices have spiked after U.S. strikes. They're prompted Iran to block the straight-of-war moves and target energy sites. Average home bills stay fixed until July, but experts predict a 10 percent hike that could add 160 pounds a year. Earlier this week, the energy secretary stressed that big rises can't happen right when the government claims success in cutting costs from past budgets. Officials say protecting living standards is key, even if it means extra household aid amid the uncertainty. Meanwhile, families are feeling the pinch beyond bills, with markets pushing back, bank of England rate cut hopes and threatening broader economic gains. Think tanks warn a full energy shock could erase this year's expected improvements in living standards. Ministers have already pulled or tweaked 57 fixed tariffs in just three days per industry

1:00data. Experts push for targeted fixes like cheaper rates for low-income homes, more solar incentives, or shifting bill charges to taxes rather than massive. Bay allows that fuel pass debt spikes. As the conflict lingers, ministers are weighing all options from expanding warm home discounts to pausing planned petrol duty hikes this fall, too.