To ask the Minister for the Economy what actions are being taken by his Department to bring home heating oil within the scope of the Utility Regulator.

Given the recognised competitive market in home heating oil in Northern Ireland, there is currently no consideration being given to regulating the sector.

If we were to take such intervention, it would require primary legislation to establish the regulatory framework. The Competition and Markets Authority has jurisdiction to investigate and take action to address anti-competitive practices in this market. In terms of consumer protection against unfair trading practices, my Department’s Trading Standards Services (TSS) has the power to investigate complaints of this nature, and can take enforcement action where consumer protection regulations have been breached, including around the sale and delivery of home heating oil.

It is also worth noting that price controls will do nothing to tackle the underlying causes of oil price rises as the price regulator would have to allow the pass-through of legitimate input costs, most notably the crude oil price. Additionally, the costs of regulation, including administrative and other indirect costs, could add further upward pressure on consumer’s bills.

The Northern Ireland Energy Strategy, “The Path to Net Zero Energy”, sets out a pathway to decarbonising our society and gradually phasing out fossil fuels. This will ensure we reach our net zero targets and protect consumers by decoupling our sources of heating from the global fossil fuel markets, which are subject to price shocks.