Energy Prices Set To Soar Again

IF YOU use energy, the future’s grim.

Prices are set to rise again, and again, and again.

For many, the hikes announced before Christmas were more than enough to worry about, but a spokesperson from Ofgem, the UK electricity and gas market regulator, say prices will soar again.

Alistair Buchanan, chief executive of Ofgem, said a lack of energy generation meant Britain faces five years of rapidly increasing electricity costs.

He said while old power stations had been shut down to meet green targets, they had not been replaced with other energy generating solutions, leaving the UK to rely on expensive imports.

And UK residents are set to be hit the hardest with millions of homes un-insulated and incredibly energy inefficient.

A spokesperson for the EcoExperts said: “For most householders it doesn’t really matter why prices are going up, it just matters that they are. Each time the bills come through the letter box, homeowners are bound to feel a sense of dread as the figure is higher than before.

“Every time we hear news about energy bill increases, we always see a huge surge of people looking to install solar panels and create their own energy. The reason for this is, simply, people can’t afford these huge bills, so instead look at ways they create their own energy and installing a solar panel is one of them.

“A lot of people are really, really worried about the future of the UK’s energy supply, and feel more secure knowing they are creating their own.”

Mr Buchanan said the consumers needed the change their habits and use programmes like the Green Deal to cut down on energy use.

The government incentive allows property owners to increase the energy efficiency of their home, by providing them with a loan attached to their property which they can use to purchase insulation, double glazing and solar panels along with many other solutions.

However, while energy supplies may be in short supply analysts said there was little chance of the UK running out of gas.

Ashton Berkhauer, the deputy chair of Energy Forecaster, which gives companies advice on their energy bills told the BBC: “We must not fear. The UK is very well connected. We have a number of different inter-connectors based all around the country as well as huge import facilities.

“However it is important consumers and businesses make sure they are not using more energy than they need to."