You can't stop a war.
You can stop paying for one.
On 28 February, US and Israeli forces struck Iran. Oil hit $100 a barrel. Gas followed. Here is what it means for your energy bill and what you can actually do about it.
💥 What happened?
US and Israeli strikes on Iranian oil facilities disrupted about 20% of global oil supply around the world.
The Strait of Hormuz, the narrow channel that most Middle East oil passes through, became extremely risky to navigate.
Traders priced in the disruption immediately. Oil hit $100. Gas, which is priced alongside oil in many contracts, followed.
🇬🇧 What does this mean for UK households?
Higher gas prices on the open market feed through to your bill at the next price cap update.
The April cap had just been announced as lower. The July cap is now forecast to be higher.
For people on flexible energy tariffs, the impact is more immediate. your price per unit can change quarterly.
💡 What can you actually do?
You cannot control world events. But you can make your home less exposed to volatile gas prices.
The best way to do that is to use less gas at peak times. and earn money from electricity flexibility instead.
When gas prices are high, the grid pays more for shifting when you use power. FlexMyPower earns more for you exactly when prices are worst.