Iran war raises energy price fears for Scottish consumers: comment

Global oil and gas prices have risen due to the conflict in the Middle East [1], sparking concerns that these rises are likely to affect Scottish consumers and businesses. They also come in the wake of recent analysis showing that the total cost to the Scottish economy from the energy crisis caused by Russia’s invasion of Ukraine was £11 billion, equivalent to around £2,260 per household. [2] 

Commenting, Professor Tavis Potts, Co-coordinator at the Just Transition Lab at the University of Aberdeen, said: “Businesses and families across Scotland will likely be thinking ‘not again’, as the impact of the country’s reliance on oil and gas is exposed once more.
 
“Although North Sea production may be more viable at a higher price the volatility makes it difficult for the industry to plan, and ultimately it means higher prices for businesses, consumers and communities who are reliant on fossil fuels. But whatever the short-term effects, drilling for more North Sea gas won’t lower costs for consumers or industry as output remains too low to influence global prices.

“Ultimately, to cope future energy price shocks, the solution remains the same, lowering demand through renewables, decarbonisation and energy efficiency. Real energy security is not being hostage to international markets, price fluctuations and the significant impacts this has on families and businesses. The Committee on Climate Change found recently that Scotland is making good progress on net zero, where we can reduce climate impacts, create a strong diverse economy and lower bills." [3]

ENDS

Notes to editors:

1. Trading Economics: https://tradingeconomics.com/commodity/uk-natural-gas 

2. ECIU: https://eciu.net/media/press-releases/dependence-on-oil-and-gas-costs-scottish-industry-almost-2-billion 

3. CCC: https://www.theccc.org.uk/2026/02/25/scotlands-plan-means-immediate-climate-targets-are-now-within-reach-says-ccc/ 

For more information or for interview requests:

George Smeeton, Head of Communications, ECIU, t: 020 8156 5305, m: 07894 571 153, email: george.smeeton@eciu.net