• 4 minutes Drone attacks cause fire at two Saudi Aramco facilities, blaze now under control
  • 7 minutes China Faces Economic Collapse
  • 13 minutes Oil Production Growth In U.S. Grinds To A Halt
  • 15 minutes Iran in the world market
  • 18 minutes Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 1 min USA Wants Iran War -- Shooty Shooty More
  • 1 hour USA : Attack came from 'Iranian soil'. Pompeo to release 'evidence'.
  • 42 mins Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 7 hours Never Bring A Rapier To A Gun Fight
  • 10 hours Bahrain - U.S.: Signed Deal To Buy Patriot Missiles
  • 1 hour Yawn... Parliament Poised to Force Brexit Delay Until Jan. 31
  • 12 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 11 hours Trump Will Win In 2020 And Beyond..?
  • 14 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 12 hours How OPEC and OECD play their role in setting oil price in light of Iranian oil sanction ?? Does the world agree with Iran's oil sanctions ???
  • 7 hours Aramco Production

UK Reduces Energy Consumption by 25% by Raising Prices by 28%

As efforts increase to reduce emissions, and the price of oil continues to rise, encouraging people to cut their energy consumption is quite important for many governments and organizations; although persuading people to reduce their usage of luxury items in order to lower energy consumption, is proving rather difficult.

The UK seems to have discovered a way to cut consumption rather quickly and effectively; increasing energy prices.

A new report released by the UK’s Office for National Statistics stated that across England and Wales, between 2005 and 2011, the average consumption of natural gas and electricity fell by 25%, due to the increase in utility bill costs of 28%.

Related article: Don’t for a Second Imagine We’re Heading for an Era of Renewable Energy

Unlike the US, which has experienced a shale boom causing natural gas prices to plummet, gas prices in the UK have risen, along with electricity costs. These rising prices combined with a deep recession that has gripped the country’s economy, provided little alternative to citizens other than severely cut back on their energy consumption in an effort to reduce the bills.

Whilst this is likely to be the main reason for the reduction, the Office of National Statistics also offered other points that may have resulted in such a trend in the UK.

It noted that homeowners have worked hard to improve the energy efficiency of their homes, with 60% of homes in 2011 boasting roof insulation, compared to 44% in 2008. The UK also introduced a law forcing all houses and white goods for sale to show an energy rating, which has helped people to buy more energy efficient properties and items. Homeowners have also reduced energy consumption by modernising heating systems.

Energy rating charts
Energy rating charts help provide a clue as to a property’s efficiency and environmental impact. (Property Inventory Services)

Natural gas accounts for two-thirds of all energy consumption in the UK, so the high prices really have had a large impact on demand. In the East Midlands natural gas use fell by 37.5% from 2005 until 2011.

The Energy Information Agency has also estimated that energy use per person in the US will fall by 2040 as energy efficiency is increased across the country.

Source: http://qz.com/116212/heres-how-uk-homeowners-cut-their-energy-use-by-25/

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play