Some details of the Government’s long awaited Energy Bill were released on 23rd November, 2012 which highlighted the substantial investment required in new energy producing infrastructure projects in order to meet its environmental targets1 , increase the proportion of electricity generated from renewable sources and replace ageing nuclear and coal power stations. As a result the Government has told energy companies that, by 2020, they can add a total of £7.6bn to household bills to help fund this investment. This means higher utility bills for consumers; on average annual bills are reportedly likely to increase by £95 to £110 a year by 20202. This is over and above any increases introduced by energy companies as a result of increasing wholesale oil and gas prices.
Householders and businesses can minimise the consequences of higher utility bills in the future by investing in their own renewable energy sources. EnergyMyWay can offer expert advice on the renewable energy solutions available and install the preferred option in compliance with the Microgeneration Certification Scheme, so that householders and businesses can take advantage of current Government incentives.
1. The Government’s emissions reduction and renewable energy targets are;
- To produce 30% of electricity from renewable sources by 2020
- To cut greenhouse gas emissions by 50% on 1990 levels by 2025
- To cut greenhouse gas emissions by 80% on 1990 levels by 2050
2. Department for Energy and Climate Change estimates £95; Independent Advisory Committee on Climate Change estimates £110.