Explaining the Electricity Spending Discrepancy

Energy Switcheroo continues to bring you information about the big picture, with regard to energy prices. Informed knowledge will help in deciding if you should switch suppliers to save on your bills. Although it may appear daunting, it is, with our help, a simple and straightforward process that can be repeated as future requirements dictate.

Why should you switch?

It is estimated that consumers are now paying an average of approximately £410 more for energy during the course of a year than they did ten years ago. This is despite apparently using significantly less power due to improvements in appliances and heat loss awareness. The Office of National Statistics claims that spending on electricity has risen by 52% annually. The average figure is now well above £1.200 per household, yet consumption had fallen 17%. The price of both gas and electricity has constantly outpaced inflation ever since 2003-4.

Some degree of blame has been laid at the feet of investigation into green alternatives, which have cost the country billions in rightfully needed investigation for the future. However, the development of wind farms that will cost in the region of 1.3 trillion pounds by 2050, solar power and waste-to-energy projects are according to former government environment minister Owen Paterson a long way from providing an alternative source of cheap power for the UK. In the meantime the consumer is being asked to help foot the bill.

Fuel poverty

The government suggests that tighter efficiency standards for energy appliances are estimated to deliver a yearly saving of approximately £158 per household in 2020, using more efficient TV’s, cooking and lighting equipment. However low income families are finding it hard to heat and light their homes and may be unable to afford the latest energy saving devices. It is more likely that they will replace defective equipment with cheap or second hand alternatives. They are far less likely to apply for grants to improve large-scale changes, such as total home insulation or replacement of inefficient central heating systems. The Shadow Energy Secretary, Caroline Flint, has said that “one of the main reasons our energy bills are so high is that our homes are some of the least energy-efficient in Europe.” She points out heat escaping from roofs, walls and windows that are badly insulated, is the main concern, in less well-off areas. Although the governmentclaimed in 2009 that £200 million would be spent on efficiency measures to help those most at risk of fuel poverty.

The treasury receives 5% of monies generated from energy bills; this amounted to £965m in 2013, which equates as £31.50 per household added to individual energy bills.

How can Energy Switcheroo help?

Energy Switcheroo believes that by intelligent switching you can gain back a significant amount of the general increases and stay in control of what may be for some families, limited finance. It is well worth looking at the website and reading further informative details, should you be considering switching in the near future, to save money.