Minister Archibald has commented on the rising price of home heating oil and fuel emerging as a result of the situation in the Middle East.
Minister Archibald spoke with both the British Energy Minister, Michael Shanks, and the Irish Energy Minister, Darragh O’Brien.
Following those discussions, Minister Archibald said she had a constructive engagement with both governments.
Minister Archibald said: “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.
“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 however voiced concerns that the conflict has had an immediate impact on local businesses and households which are already struggling with the cost-of-living crisis.
She said: “Let me be clear, any unjustified hike in costs for consumers is unacceptable.
“I have instructed my Department to remind all suppliers and retailers of the need to behave in a responsible manner, and we will be working with our agencies to ensure transparency on pricing.”
The Minister added that: “Whilst the announcement of a reduction in natural gas tariffs for homes earlier this week is welcome, over 60% of people in the north rely on home heating oil where we are seeing cost increases of more than 60% since last Friday.
“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.
“I’m encouraged that Minister Shanks agreed to keep the situation under review, as events are fast moving and it is unclear how long the conflict will last.”
The Minister added that she had committed to working closely with both governments as the situation evolves.
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