Data from energy regulator Ofgem shows that energy companies continue to see increased profits as a result of energy price rises with the average profit from dual fuel customers reaching £53 in 2012 - as of November this year that average has risen again to £105.
As part of the ongoing political wrangling over how best to deal with the issue of the UK’s energy prices the Government announced today they would be sending proposals to the “big six” energy firms offering solutions to reduce energy bills. While clearly something needs to be done to alleviate the situation, short term price freezes will not solve the overriding issue that fossil fuel supplies are diminishing, the result of which is that supply issues and the associated costs will continue to be a problem for the UK in the years to come.
Andrew Sheldon, Founder and Managing Director of Ice Energy Technologies commented on the issue: “Renewable energy is a viable solution which could save families considerable money while keeping them warm during the winter months, with heat pumps in particular providing a low cost and reliable method of heating. By utilising energy from the ground below or the air around us, heat pumps also remove the issue of supply, particularly in winter when the weather can significantly impact deliveries in rural areas. To date Ice Energy has installed more than 10,000 heat pumps, many hundreds of those in social housing stock and have seen first hand just how much of a difference these systems can have on peoples lives. As such I firmly believe that renewable energy is the way forward in revolutionizing and solving the UK’s heating deficiencies.”
Whichever policy to address energy pricing is implemented, it is unlikely to be a longer term solution. While renewable energy may not solve all of the energy problems it can go a long way towards securing the UK’s fundamental heating problem for many years to come and allow families to benefit from cost reductions instead of worrying continuously over how to heat their homes.
Figures sourced from original Sky News and BBC articles (link above)
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