How HeatingSave Helps Businesses | Page 20

Energy experts have pointed out the inevitability of ‘big six’ energy company EDF Energy putting bills up at the first possible opportunity after its price promise had finished. The company took on many new customers recently mainly due to its winter guarantee, which stated that bills were frozen until the beginning of this month.

Oil prices have hit a two-and-a-half-year high following protests against Libya’s ruling elite, led by Muammar Gaddafi. Amid the chaos oil companies have evacuated staff from their offices, and the situation has had a knock-on effect on prices. Brent crude rose by as much as $2.70, to $105.28 a barrel on Monday (February 24), the highest since September 2008.

A study by a leading price comparison website reveals that 62 per cent of drivers spend less time behind the wheel due to soaring fuel prices. It could be a ‘double whammy’ for some consumers since high oil prices have a knock-on effect on those with oil-fired central heating. Brent Crude Oil Futures this week had oil priced at more than $97/barrel – currently at its highest for 12 months. It is no wonder those using oil to heat their homes are suffering in this cold winter.

Energy Minister Charles Hendry says more heavy snow over Christmas could lead to “very serious” shortages of domestic heating oil. Already for this weekend (Saturday, December 18 and Sunday, December 19) the Met Office has issued severe weather warnings for the whole of the UK, added to the sub-zero temperatures experienced over the past month.

Councillors have been asked to start the procurement process so that solar panels can be installed for a cheap form of energy as soon as possible for tenants of Corby Borough Council (CBC). Energy companies would install the panels which will be used as part of a government renewable energy scheme. CBC was urged to leave the way open for energy firms to bid to supply and install the solar modules.

A well-known commodities investor says oil prices could eventually break $200 a barrel. Jim Rogers said people will be surprised just how high the price of oil stays and how high it will goes. He added: “Unless somebody discovers a lot of oil very quickly, prices are going to go much higher over the next decade. It will go over $150 a barrel. It will probably go over $200 a barrel.”

Oil prices have shot up again as markets have reacted to Japan’s energy needs. Prices peaked today (Thursday, March 17) at more than $115 per barrel. Since much of Japan’s nuclear power sector has been shut down, the country is set to increase energy imports. Analysts have concluded that with its electricity generating capacity severely limited, Japan will need to step up its energy imports, meaning fossil fuels.

Soaring oil prices have put pressure on Britain to find alternative sources of energy, and buildings are set to be fitted with green energy meters measuring how much heat they produce from sustainable fuels. Under plans to be confirmed by ministers, householders, businesses and public buildings are to be offered cash incentives to install environmentally friendly technology. In return they will receive a grant based on the amount of heat which is produced from the alternative source.

Now all the big six providers have raised tariffs, a meaningful comparison can be made on how energy bills compared to last year – and it is not good reading for customers. The average annual household joint electricity and gas bill has gone up £65, from £1,069 last year. EDF became the final one of the big six energy suppliers to announce it was increasing bills, and takes effect on March 2.

Energy firms increased their profits from customers by 50 per cent in the space of four months, while Britain shivered through the coldest winter for decades. In the autumn the firms were making £65 annual profit per customer but that figure is now £97 on a typical household energy bill of £1,200.

A global warming activist group has praised US President Barack Obama’s plans to put up solar panels on the White House roof in order to heat water and provide some electric power. Previous incumbents Jimmy Carter and George W Bush also installed panels. “Solar panels on one house, even this house, won’t save the climate, of course,” said the group 350.org on their website. “But they’re a powerful symbol to the whole nation about where the future lies.”

Company bosses were warned not to take the issue of global warming lightly. This year’s CBI Climate Change Summit highlighted a US survey where consumers ranked climate change bottom of a list of 21 problem issues facing their country. Irwin Lee, vice president and general manager of Procter & Gamble’s UK and Ireland operations, has committed that 30% of the power used to run its factories comes from renewable energy sources by 2020.