Building a world of
resilient communities.

MAIN LIST

 

UK: Energy prices to soar early next year

Millions of households face another rise in gas and electricity bills early next year in response to soaring wholesale energy costs.

Industry experts warn it is only a matter of time before some companies are forced to shut down their plants during the winter when prices reach their annual peak.

The Energy Intensive Users Group (EIUG), which represents large industrial consumers such as chemical, steel and gas producers, said UK gas prices in particular were much higher than in leading competitor countries. According to one recent report, they are almost 40 per cent higher than in the United States.

It has joined watchdog Energywatch in calling for further investigations into recent wholesale price movements.

Jeremy Nicholson, director of the EIUG, said: "In the absence of a comprehensive investigation it is difficult for industry to see why [ international] price differences should be so wide."

Gas wholesale prices hit a record 43.5p a therm last week, while electricity prices struck a peak of ?35 per magawatt hour, a rise of 40 per cent since the start of the year. A combination of factors, including record oil prices, the depletion of North Sea gas reserves and a crackdown on carbon dioxide emissions, has been blamed.

Spiralling wholesale energy costs are expected to hit consumers in a new round of price increases next year. British Gas, which put up prices 5.4 per cent in January, announced last month that the cost of gas will go up a further 12.4 per cent and electricity 9.4 per cent.

Price comparison service uSwitch says families could see their power bills rise by as much as ?145 this year.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

In Defence of Wellbeing

William Davies’ new book The Happiness Industry is a fascinating and …

The Era of Impact

The era of impact is the point at which it becomes clear to most people that …

NACTO Report Links Station Density to Bike Share Usage, Equity

A new report argues that consistent, close station design is crucial to …

Resilience Reflections with Robert Jensen

My biggest setback was being born white, male, middle class, and a citizen …

Living Big in a Tiny House – The Transforming Castle House Truck

With the average size of houses having increased over recent decades, there …

We Tried So Hard to Be Good

We tried so hard to be good, but it didn't work. Nothing was enough for you. …

Gambiarra: Repair Culture

When the maker culture becomes eminently entrepreneurial, we should wonder …