Stay Informed With HeatingSave | Page 10

Energy inflation has reached 2.2 percent in April across the UK, making it the most significant increase in Europe – more than four-times the rate of increase in Germany, a news report informs us.

As energy bills keep going up on a yearly basis, more and more households across the UK are being pushed into fuel poverty and, unfortunately, that’s also the case across a slightly well off area of the country, namely Reading.

HeatingSave’s advanced built-in monitoring and control systems might enable home owners in Scotland to boost their house’s energy efficiency levels by providing them with a smart and simple solution for knowing exactly how much they’re spending on energy and optimizing their heating expenditure accordingly.

Confirming the previous rumours on this topic, British Gas owner Centrica has officially confirmed its decision to invest in

Implementing energy-saving measures across one’s home might actually boost its market value by an impressive 38%, depending on its location, a new report by the Government’s Department of Energy and Climate Change reveals.

Commodity markets this week have taken fright at the turmoil in Bahrain, which has caused another spike in oil prices. The market had temporarily recovered following the past month’s record-breaking levels per barrel due to the instability in the Middle East. With Libyan production already near zero, markets reacted badly to new demonstrations in Bahrain and the risk it may spread to neighbouring Saudi Arabia. Brent crude futures broke back above $113 a barrel.

Wholesale gas prices have risen dramatically over the last year, and are up 35 per cent since March 2010. It was only a matter of time before this increase would be passed on to retail prices. It has come as no surprise that supplier E.ON has joined four other energy companies in putting up prices and heaping more winter misery on suffering consumers. All suppliers have cited wholesale costs as the reason behind the price hikes.

A price comparison website has warned consumers they will face a 20 per cent rise in fuel bills this winter. Cold weather and rising gas prices are expected to push the average quarterly fuel bill up to a record £658.

Ofgem is considering forcing electricity and gas suppliers to offer a basic tariff to protect customers against soaring bills. It is one of the options being considered as part of the regulator’s investigation of the energy market. It is understood that Ofgem has not yet approached companies about the measure.

Global markets were thrown into turmoil as a result of tensions in Middle East countries where vast stocks of oil are kept. The rising price of oil, which could fuel further rises in already high inflation rates and hit corporate profits, affected stock markets. At the beginning of the week US shares, Asian stocks and European shares all closed heavily down.

The Spanish government is rushing to print new signs to alert its people of a reduction in the motorway speed limit as oil prices rise. This is just one method the administration is using to tackle rising prices due to unrest in Libya. The maximum speed limit on Spanish motorways will be lowered to 110kph (68mph). Around 13% of the oil Spain consumes comes from Libya.

Saudi Arabia has opened emergency talks with European refinery groups after world oil prices surged to the $120 a barrel mark. The Saudis and their partners in the Opec oil producers cartel said any shortfall in oil supply caused by instability in Libya would be made up. An engineer with the Sirte oil company said a blockade by rebels had prevented 80,000 barrels a day being exported from the Dregga field alone.