And once again recent rises in household gas and electricity prices are identified as the main culprits. This recession started with a banking crisis. It seems to be being perpetuated by an energy crisis…
In the news
The Bank of England’s frozen base rate is easing the pain for borrowers right now, but it’s not good news for savers. If you’re looking for decent, guaranteed returns on your money, consider investing in a solar PV system before the government reviews the Feed In Tariff (FIT) in April 2012. The FIT scheme rewards you both for generating green electricity and exporting any surplus back into the grid, and at current incentive levels it’s a much better long-term investment vehicle than anything you’ll find on the high street. See how you can save money with solar PV here – but don’t forget that you need to install before the government’s review to maximise the return on your investment, as the rewards are expected to reduce significantly.
We were initially surprised by this – we’re all feeling the bite of the recession right now. But however difficult we’re finding it, recessions pass – and many of us have lived through at least one to know that boom inevitably follows bust. This too shall pass. Climate change is a different beast. It’s an unknown quantity, we have nothing to compare it to and according to the Global Humanitarian Forum, it’s directly responsible for the deaths of 300,000 people every year. Added to the human cost is the economic one – financial losses due to climate change add up to $125 billion a year, which is more than all the current aid pledged to help the 300 million people directly threatened by climate change today. Scary stuff indeed.
The last of the Big Six energy providers increases the price of electricity by 4.5% and gas by 15.4%, putting a quarter of the UK’s households into fuel poverty.
The article says ‘soaring utility bills were the main driver behind last month’s rise’. Time to think about a more affordable, stable and sustainable way to power your home?
Seriously npower… You reported an incredible 130% profit in the first half of 2011. Isn’t it about time you gave your customers a break?