Council confirms £300 heating oil support

An important development from the financial markets: Council confirms £300 heating oil support 3 days ago Share Save Add as preferred on GoogleDavid McKennaEast Yorkshire and LincolnshireGetty ImagesThe payment is to help eligible households with the rising cost of heating oilHundreds of households in North Lincolnshire who rely on heating oil will receive £300 support to help with rising heating and energy costs, the district council has said. Unlike for those who use gas and electricity for their domestic fuel, prices for households using oil are not capped by regulator Ofgem. Council leader Rob Waltham said: "Residents should not be left behind simply because they are off the gas grid.

"In March, the government announced about £50m of support for households struggling with high heating oil costs, following sharp price rises resulting from the Iran war. Waltham said: "We know many households have faced significant increases in heating oil costs and for some residents, particularly older people and those on fixed incomes, those rises have caused real concern. "While some councils have offered very limited support, we have been as generous as possible with the funding allocated to North Lincolnshire because we know the pressure many rural households are under.

"Eligible households who previously registered their interest were now being contacted with further details, though applications remained open, the council said. Successful applicants would receive the £300 payment directly into their bank accounts, a spokesperson added. Listen to highlights from Lincolnshire on Sounds, and watch the latest episode of Look North.

Financial markets are tracking the development closely as investors assess the likely impact.