The effect of UK climate change policies on future energy bills
The UK government as with many governments around the world are attempting to move to greener technologies in order to provide sustainable energy to consumers. The way they do this is partly by changing the tax system and the grant system to incentivize consumers and suppliers to make the correct choices.
In the UK, the outlook and projections are for the year 2020 and project that the average energy bill will be 11% or £166 cheaper than they would otherwise be. This does not take into account the enormous potential for lowering energy prices through the process known as fracking. Fracking or hydraulic fracturing, is the process of extracting natural gas from shale rock layers deep within the earth. Fracking makes it possible to produce natural gas extraction in shale that were once unreachable with conventional technologies. The UK sits on beds of shale and similarly to the USA could benefit greatly through cheap, home grown energy production.
Of course, not all energy policy relies on energy production. Much of the savings envisaged come from households investing in better insulation through the lagging of roofs and the installation of better glazing. Education is key here as just lowering the settings on individual radiators can make a large difference to bills.