Could Middle East conflict push up energy bills - and what can I do about it?

The escalating conflict in the Middle East might seem far away to most of us - but it could have a very real impact at home.

In fact, experts are already warning that the deepening hostilities between Israel and Iran could push up oil prices, which in turn means we may end up paying more for energy.

That could then lead to inflation creeping up and our money not going as far.

Of course, we don’t know how events in the Middle East will play out.

But it’s a reminder to all of us that it’s worth being prepared for possible financial shocks, and knowing what support is out there if we need it.

Review your budget

The best way to feel in control of the situation is to make sure you know how much money you have coming in each month and where it’s going.

Creating a budget can make it much easier to prioritise your spending, spot areas where you can cut back and save, and ultimately, feel less anxious and worried when it comes to managing your money.

Try out our budget planner to get started - it’s free and easy to use.

And once you’ve worked out your budget, review it from time to time.

If your energy bill or your weekly shop gets more expensive, you may need to find savings elsewhere to keep your budget balanced.

Get help with your bills

If you’re already finding it hard to keep up with your bills, speak to your supplier.

What support they offer will depend on your provider, but they could offer:

• affordable repayment plans
• temporary payment breaks
• prepayment meter adjustments to allow smaller, manageable top-ups
• write off the debt

Energy grants and help

Lots of energy suppliers offer grants to help pay off debts. For example:

• British Gas Energy Trust provides help with energy bills, financial hardship among other things. It’s also open to non-customers too.
• E.ON Next Energy Fund provides financial aid and appliance replacement to customers struggling with energy bills.
• EDF Customer Support Fund offers grants, appliance replacement and advice to customers facing financial hardship.

Check your supplier's website to find out how they can support you.

Sign up to the Priority Services Register

If you're vulnerable (due to age, disability, or health conditions), you should also join the free Priority Services Register for additional support.

The Priority Services Register (PSR) is a free service that provides extra support to people who need help with their energy supply. 

By joining, you could benefit from extra support during power cuts or help to make your billing more understandable.

You could be eligible if you’re disabled, have a long term medical condition, a mental health condition, communication needs or are pregnant.

Check to see if you can sign up at PSR.

Find out if you’re eligible for benefits

It’s also well worth checking to see what government support you might be eligible for.

Use our benefits calculator or get in touch to find out what you could claim.