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According to BusinessGreen, George Osborne believes shale gas production could create wealth funds for north of England. A plan to generate new shale gas tax revenue could be deployed as a UK sovereign wealth fund. Ed Davey, energy and climate change secretary, said that the fund could be set-up once commercial production Starts. He said, “It’s about storing the financial benefits of shale production and putting it towards a low-carbon energy future. He went on to add, “Its part of our strategy to strengthen our security of supply in a cost-effective way”. According to a spokeswoman at the DECC (Department of Energy and Climate Change), the fund size will be decided by the scale of resources. She also stated that the benefits to the communities, who host shale gas production, are an addition to the existing on offer – lump sum of £100,000 for each test completed successfully, plus 1% […]

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Experts at the UK Energy Research Centre (UKERC) have made it be known promises of lower prices were “lacking in evidence” and were “hype”. The Whitehall Treasury Department continued with the emphasis Shale Gas and its potential was “too big to ignore” The UKERC authored report expressed concerns of Shale Gas, which is a natural form gas extracted from rocks deep underground by machine and chemicals (fracking), was at a stage too early to conclude its viability. They went on to further state Shale Gas was unlikely to give a noticeable difference in energy prices experienced by householders or to the security of future supplies. Those that are in favour of fracking point to America and exclaim as the fall in energy prices in the US to where it has now become a net exporter of gas. On the reverse, critics cite the environmental damage and consequence fracking could have […]

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Energy secretary says lack of turbines will raise consumer bills and Tory ideological stance is putting off investors The Conservative party’s opposition to onshore wind turbines risks undermining the creation of British jobs since new data showed 15,400 people are now employed in the wind power industry, warns energy secretary Ed Davey. While wind supplied 9% of all UK electricity, there has been a 70% rise in jobs in the wind power industry since 2010 according to the data from trade body RenewableUK. The wind power industry attracted £2.6bn of investment in 2013-14, of which £1.1bn remained in the UK. As wind is the cheapest clean energy, new British jobs will be undermined and customer bills will increase because of that the Conservative party’s “ideological” opposition to onshore turbines says Davey. “We have had a major leap forward in recent years and there is a really good story to tell,” […]

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According to the Big Deal, independent energy supplier Extraenergy is set to gain 30,000 new customers after submitting the winning tariff to a collective switching scheme. The supplier, which only launched in March in the UK domestic market, offered customers who signed up to the collective switching scheme a 12 month fixed deal for £949 which is run in collaboration with The Sun. The tariff is “£11 cheaper than the best tariff on switching sites” according to Big Deal and its members could benefit from a reduction of up to £316 on their annual energy bills by switching. “People power has delivered” said The Big Deal co-founder, Will Hudson. He added: “And more importantly it’s delivered for people who have been let down by the energy market for too long.” Energy secretary Ed Davey agreed with the initiative and said it was a “great deal”. “I’ve been pushing collective switching […]

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Ofgem has warned Scottish Power that it could face a sales ban unless it improves customer service.</> The company has to improve its customer service in the next three months, if it doesn’t, Ofgem will ban it from all proactive sales activities. Ofgem wants the company to improve on the following 3 key areas: call waiting times; late bills; and Ombudsman complaints. The company must: answer all customer queries promptly; decrease the number of overdue bills from 75,000 to 30,000 by the end of December; and resolve every single outstanding Ombudsman complaint. An investigation has also been launched into the way Scottish Power treats its customers added Ofgem. Scottish Power has had the highest percentage of billing errors among the large energy suppliers according to Uswitch.com. “Ofgem’s action today will drive immediate improvements for Scottish Power customers.’’ Said Ofgem senior partner in charge of enforcement, Sarah Harrison “The investigation we […]

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1) Weather proofing:Sealing windows, heating ducts and other services can reduce your bill massively. 2) Energy Audit:Getting your home or workplace audited can give you a detailed understanding about the heating and light usage. Having this understanding, will ultimately lead you to be more energy savvy and hence reduce the cost of your utility bill. 3) Lights:Getting energy efficient light bulbs is a great way to reduce your bills and it doesn’t require a massive effort. You can simply fit them as any other incandescent bulb. 4) Sunlight:Often in the winter months, sunlight is hard to come by, but where possible let the sunlight come into your house, by opening the curtain, so it can naturally heat the home. Similarly in the summer, you can use light coloured blinds which will reflect the heat out and hence, keep the home cooler. 5)Technology:Thanks to technology, you can programme your thermostat so […]

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