Here at Anglian, energy saving is at the heart of what we do. We manufacture all of our products with energy efficiency in mind and we are frequently approached by customers who want to reduce their impact on the environment and lower their bills too.
Because energy saving is an important topic for us, we like to keep up to date with all industry happenings that could affect us and you our customers and one big thing to hit our radar this week was the Ofgem Annual Capacity Assessment. The report produced by the energy regulator using their own data and that of the National Grid and was submitted to the government to outline predictions for the future of energy use in the UK.
One thing to emerge from the report was the prediction that spare electricity generating capacity could fall significantly within only a few years. The report predicts that spare capacity will fall from the current level of 14 per cent to four per cent by as early as 2015. Increased demand is of course expected to contribute to this fall in spare output, as is the closure of coal and oil fuelled power stations in line with carbon reduction targets. So, what does this mean for UK energy use and UK energy customers?
There has been talk of potential power blackouts – which are mentioned in the report – though, Andrew Wright, a senior executive at Ofgem, told The Guardian: “It is too early to be alarmist about the lights going out,” adding “it is likely the tightening of the market will lead to higher wholesale prices”.
What seems certain is that wholesale energy prices will rise if the market tightens. In short, this would mean higher bills for consumers. However, higher energy prices aren’t just a thing of years to come, they are very much in the here and now. From October 15th the second largest energy company in Britain – SSE – are raising the prices on a typical dual energy bill by nine per cent and it’s widely expected that other big names will do the same in the months that follow.
If domestic energy users concentrate on reducing their consumption, not only could we minimise future problems, but they will also be rewarded with lower bills. Improving energy efficiency in the home is the clear path towards this. We’ll be exploring lots of ways you can reduce your household energy consumption during Big Energy Saving Week (Monday 22nd- Saturday 27th October), so make sure you keep visiting the blog to tap into some useful tips to help you make big savings!