UNIONS have called for a targeted gas price cap to prevent thousands of job losses in key industries due to soaring energy prices caused by the US and Israel’s illegal war on Iran.

The TUC backed temporary bills support for sectors whose energy demands or input raw materials are at least 70 per cent gas, alongside a raft of longer-term measures to end rip-off energy prices.

Global wholesale energy prices have soared after Iran retaliated to the US and Israeli bombing campaign by blocking suppliers from using the Strait of Hormuz. The record price rises have been dubbed “Trumpflation” after US President Donald Trump.

TUC general secretary Paul Nowak said: “Already struggling before the war, Trumpflation has sent gas prices soaring — further piling the pressure on some of Britain’s key industries like chemicals, ceramics and glass.

“Trump’s war must not put jobs in critical industries at risk.

“The government should urgently bring forward a temporary targeted gas price cap, to stabilise the price of gas for critical industries and protect UK manufacturing, and speed up the energy price support scheme making sure it reaches crucial sectors.”

Ministers could set a maximum “strike price” for gas purchased by eligible industrial users and compensate suppliers for the difference when wholesale prices exceed that level, said the union federation.

The TUC also urged ministers to sectors hit by soaring electricity prices by speeding up the British Industrial Competitiveness Scheme (BICS).

The government programme is designed to cut electricity bills by up to 25 per cent for approximately 7,000 eligible energy-intensive manufacturers by offering exemptions from specific renewable and capacity levies from next April.

The TUC warned that some of the most exposed industries, like ceramics, chemicals and glass, currently risk bring excluded from the under-consultation scheme.

It argued BICS should be brought forward to 2026 and for the scheme to apply to foundational industries in their own right, beyond those that directly supply the “frontier industries” within the government’s Industrial Strategy sectors.

Alongside immediate support, the TUC also called for wider structural change and investment, “to fix the foundations so that industry doesn’t bear the brunt of future price spikes.”

Mr Nowak said: “Smart government action can stop us lurching from crisis to crisis. The UK has been at the mercy of global gas markets for too long.

“Now is the time to fix the foundations, reducing the UK’s vulnerability to global gas price shocks, boosting resilience of key industries, and protecting good jobs for the long run.”

The government was urged to de-link electricity prices from gas, radically increase Britain’s gas storage capacity — which is just a fraction of that of the Netherlands, France or Germany — and accelerate investment in energy efficiency and electrification upgrades.

Make UK chief executive Stephen Phipson warned “the more that action is delayed the greater the risk of rapid deindustrialisation.”

End Fuel Poverty Coalition Simon Francis said the calls to de-link electricity prices from gas and accelerate energy efficiency investment could also help to reduce household energy bills and fuel poverty.

“What is missing from the TUC’s demands is explicit protection for the households hit hardest by the same fossil fuel price shocks battering industry and the Trump Tax on energy bills set to come in on July 1,” he added.

Communist Party general secretary Alex Gordon warned “no price-cap arrangement will stop the price-gouging and profiteering of energy suppliers. 

“Only full nationalisation of the energy supply companies  will allow adequate control of energy supply for industrial and domestic users. 

“Trade unionists must demand energy, food and job security through nationalisation of the means of energy supply, production and distribution. 

“Anything less is a green light for profiteering and speculation in the growing fear and misery of working people faced with imperialist barbarism.”

Green Party peer Natalie Bennett said that it is “imperative” the government acts on decoupling electricity prices from gas but added “we also need real investment in renewables and green energy… alongside proper support for people transitioning from roles in the declining fossil fuel industry.”

A government spokesperson said: “We’re moving full steam ahead to tackle the cost of energy — one of the greatest challenges facing industry today. We’ll shortly confirm eligibility details for plans to cut electricity bills by up to 25 per cent for over 7,000 businesses.

“We know businesses and workers will be worried about impacts of the situation in the Middle East, and we’re working closely with business groups, and trade unions and bodies to understand their challenges and discuss where we can help them.”