Energy Secretary Ed Miliband has indicated the government is prepared to intervene on energy bills if necessary, as oil and gas prices surge amid escalating tensions in the Middle East.

Prices have risen sharply due to the ongoing conflict involving the US, Israel and Iran, raising concerns about the impact on household cost of living. The energy market volatility has prompted speculation about potential government support measures for consumers.

The comments come as questions mount over whether the UK government will provide crisis assistance similar to previous interventions. During the Covid-19 pandemic, the government implemented extensive furlough schemes to support workers and businesses through lockdowns.

More recently, the previous Conservative government under Liz Truss enacted emergency measures during the energy crisis, though those policies contributed to significant economic turbulence before being reversed.

The current situation presents Chancellor Rachel Reeves and the Labour government with decisions about potential intervention as households face the prospect of higher energy costs heading into winter months.

No specific measures or timeline for potential intervention have been announced, with officials indicating they are monitoring the situation closely as energy market conditions continue to evolve.