Targeted support could be offered to households struggling with soaring energy bills as a result of the Middle East crisis, Rachel Reeves has indicated.The Chancellor said she would give support “to those who really need it”, with a package of help for people who rely on heating oil - which is not covered by the energy price cap - expected next week.Gas and electricity bills are covered by regulator Ofgem’s price cap which is fixed until June, but if the conflict continues and Iran maintains its stranglehold on shipping in the Strait of Hormuz, households could face dramatic hikes at that point.
