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Scotland lost £11 billion from 2021–2024 due to energy crisis from global fossil fuel price spikes, hurting households and industries most.
A new report by the Energy & Climate Intelligence Unit reveals Scotland’s economy lost £11 billion from 2021 to 2024 due to the energy crisis, driven by global gas and oil price spikes after Russia’s invasion of Ukraine.
Households faced an average of £2,260 in extra energy costs—equivalent to 70% of annual food and drink spending—with lower-income areas hit hardest.
Industries in Glasgow, Edinburgh, the Highlands and Islands, and Aberdeen saw the largest increases, while commercial, agricultural, and public sector groups paid £2.6 billion in added expenses.
The study highlights Scotland’s ongoing vulnerability to volatile fossil fuel markets and calls for faster adoption of renewables and energy efficiency measures to reduce future risks.
Escocia perdió 11 mil millones de libras esterlinas entre 2021 y 2024 debido a la crisis energética de los picos mundiales en los precios de los combustibles fósiles, lo que perjudicó más a los hogares y las industrias.