Heating oil customers in the UK are set to receive compensation of up to £350 each after their orders were cancelled during a significant price surge linked to the Middle East crisis. Approximately 1,700 customers were affected as suppliers scrapped existing orders, forcing many to pay much higher prices for replacement deliveries.
The Competition and Markets Authority (CMA) found that while some suppliers have agreed to compensate affected customers, others have not yet complied. This situation highlights the vulnerabilities faced by households relying on heating oil, particularly in rural areas where alternatives like mains gas are unavailable.
The price of heating oil soared by 92% at its peak, leaving many customers in a difficult position. The CMA’s investigation revealed that consumers are less protected compared to those using mains utilities, prompting calls for stronger regulatory measures to safeguard these households.
As the CMA continues to negotiate with non-compliant suppliers, the potential for court action looms. The government is also considering regulatory reforms to enhance protections for heating oil consumers, ensuring they are not left at the mercy of volatile market conditions.
Source: The Guardian
