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Energy Markets Update
29 April 2026
Type
Written Ministerial Statement
Department
Department for Energy Security and Net Zero
At a Glance
Issue Summary
Michael Shanks is addressing the impact of recent Middl [5D [K Middle East conflicts on global energy markets and outlining actions taken [K by the UK to mitigate disruptions.
Action Requested
The statement outlines ongoing international engagem [7D [K engagement, domestic preparations, financial support measures, and efforts [K to accelerate clean energy transitions in response to energy market disrupt [7D [K disruptions. It also mentions continuing to monitor impacts and adapt strat [5D [K strategies as necessary.
Key Facts
- The UK contributed 14 million barrels of oil to the large [5D [K largest International Energy Agency stock release.
- The energy price cap [K fell by £117 a year due to recent decisions, with savings locked until June [4D [K June end.
- Over £50 million of support was announced for vulnerable heati [5D [K heating oil customers.
- The Chancellor expanded the British Industrial Co [2D [K Competitiveness Scheme to cut bills for thousands of energy intensive busin [5D [K businesses.
- A 5p fuel duty cut has been extended until September.
- The [3D [K The AA and Fuels Industry UK confirm that production and imports are contin [6D [K continuing as usual, with the UK being a net exporter of petrol.
- Since t [1D [K the Strait closure, the UK has worked closely with airlines to monitor jet [K fuel stocks.
- Airport Coordination Limited updated guidance allowing airl [4D [K airlines flexibility in planning flights.
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