Editorial: Northern Ireland is like Scotland and indeed the rest of the UK in not being realistic on its energy needs and costs

​New data shows the spike in energy prices cost Scotland’s economy £11 billion.

A new report by the Energy & Climate Intelligence Unit (ECIU) calculated the direct additional costs faced by businesses, households and other “energy consumers” between 2021 and 2024 as a result of the energy crisis. This saw wholesale gas prices soar in the wake of Russia’s invasion of Ukraine, while the price of road fuel rose due to a spike in oil prices.

Not only did gas prices soar, but home heating oil did too – and this affected Northern Ireland more than any other part of Britain and Ireland. We have the highest percentage of households heated by oil, more than half, and such fuel rocketed to more than £1 a litre – meaning that a tank of 900 litres cost the better part of £1,000, which put horrendous pressure on family budgets. While prices soon fell back under £1, they stayed high for more than two years before for falling to current levels, about half those of peak.

The Russian invasion has shown up huge problems in the UK energy markets (and indeed in Germany, whose leader has admitted that they were foolish to give up nuclear power and make themselves reliant on Russian gas).

This new analysis pointed to a recent report showing the UK has some of the highest energy costs in Europe, largely because of its dependence on gas. It said the findings expose Scotland’s “deep vulnerability to global oil and gas markets”, adding that many energy-intensive industries still face high industrial energy costs.

But, incredibly, the Labour government has ruled out Britain taking advantage of its remaining North Sea gas reserves, making us more dependent on overseas energy. Here in NI, like the Republic, we do not even consider the small modular nuclear reactors that are carbon free – we act, like Scotland and Germany as if wind power and other renewables can meet our needs.