NPower News Update: Energy Prices
NPower News Update
NPower have recently forecast that within 7 years British customers could see their energy bill rise by as much as £240 according to the latest reports. NPower are predicting that a long with other energy suppliers the average persons energy bills will rise from roughly £1,200 to £1,440. NPower think that predictions, made by their own and other companies, about energy prices when green energy has been involved have been too optimistic to hope for. They’re reports are now suggesting that using and support green energies and/or low carbon energy sources could add alone £82 onto our individual energy bills each year by the end of the decade, which is up from £34 this year and £12 in 2007. It is said that by 2020 5.5% of our energy bill will be accounted for by low carbon sources, which is a rise of 2.5% from now where it currently stands at 3% for an average household. To visit NPower’s website use this link: http://www.npower.com/home/index.htm
NPower’s chief executive has said that we need ‘new infrastructure’ though he also added that this will come at a ‘cost’ that should be ‘Cleary communicated’ to the public for their benefit. He did point out the government policies instead of doing nothing are only keep bills lower with annual current saving of £65 will raise to £166 in 2020, compared with if the UK remained reliant on fossil fuels and did nothing to tackle climate change. Simultaneously energy companies such as NPower profits have risen within five years from £18 per household to £59. NPower predict that by 2020 their profits will have risen to £71 per household but will stay consistent and only account for 5% of the bill. The costs of helping people save money through methods such as insulation are also increase rising from £12 in 2007 to a forecast £88 per household by the end of the decade. NPower also stated the cost of government policy regulations which includes tax on energy will rise from the current £185 to roughly £329 by 2020 on the average bill. Operating costs will also apparently rise from £208 to £241 within the same stretch on time. The wholesale gas and electricity on average makes up 45% on the average energy bill, though NPower think the price could drop by £50 judging by the latest government data provided. A independent report found that the majority of the British public want to move to renewable energy sources. Though the do not trust the government to energy suppliers to provide a clean secure services. Click Here if you wish to contact NPower.
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