Scotland's War-Related Energy Bills Soar by Half Billion Pounds

Scotland is facing an estimated £25m extra costs for every week the war in the Middle East continues, according to new analysis from ECIU. The higher gas, electricity, and road fuel prices are linked to turbulence in global energy markets. These increased costs will be fully felt next year when higher gas prices filter through to domestic and non-domestic gas and electricity bills.

The majority of the extra costs have been from increased road fuel prices, which account for around £170m of the total £520m excess costs incurred by Scottish energy users. This is equivalent to £15m a week in additional costs for Scottish industry. The cost of the war to industry through gas and electricity bills only is £2m per week.

Laura Anderson, Senior Consultant at ECIU, commented on the impact of the conflict: 'The conflict in Iran has once again exposed how vulnerable Scotland remains to volatility in international oil and gas markets.'