Shale drilling to actually drive down gas prices by up to 27%, Government advisers claim

Overall gas prices for non-commercial customers might decrease by up to an impressive 27%, should the UK decide to go ahead with large-scale exploration of its shale gas reserves, a new study carried out by Navigant Consulting and commissioned by the DECC has revealed.

As a news report on the matter informs us, the study considered three different scenarios: one involves “limited” shale gas exploration in the UK and Europe, the second relies on “high-scale production” in the area, and a third, “negative” scenario takes into account such issues as “political limitation” on the availability of imports or “US gas production declining before current expectations”.

What’s really interesting to mention here is that, regardless of the specific scenario, the survey’s figures revealed that gas prices are bound to go down, the only difference being the actual percentage.

Nevertheless, this conclusion comes in direct contrast to previous statements by Energy Secretary Ed Davey, who claimed that shale gas drilling would grant UK a superior level of energy freedom, but would have little to no effect on the actual gas prices and household bills.

Since the data provided by Navigant is so different from what the information they had previously provided, a spokesman for the Department of Energy and Climate Change (DECC) said officials are relying on their own “robust” figures that predict gas prices will rise. “Forecasting gas prices far into the future is extremely challenging so DECC uses a number of independent reports to produce our assumptions,” the spokesman said.

It really seems that, at least for the time being, the future of shale gas exploration and its overall effects on energy bills are at a “best guess” level, to say the least, so probably the best solution for driving down energy-related costs is implementing an advanced energy management solution, and this is specifically where HeatingSave can put its experience to very good use.

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