Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Lack of Competition Key in Rising Energy Prices

By Jessica Modul Subscribe to RSS | November 30th 2011 | Views:
loading
 
  



A statement published in Q3 2011 by the UK Government suggests that one of the main reasons energy prices continue to rise is that the UK market does not encourage sufficient competition. Both domestic and business tariffs have increased exponentially over the past decade.

Energy Secretary Chris Huhne argued that as many as 99% of all UK consumers subscribed to services offered by one of the 'Big Six' energy firms. He stressed that there may be greater opportunities for consumers to take advantage of discount prices from providers outside of this circle.

Consumers in Northern Ireland were hit particularly hard by rising electricity prices when Power NI announced it would implement an 18.6% price increase from the beginning of October 2011. After stalling price increases for the past two years, the dam finally burst and Power NI claimed it was no longer able to sustain rising wholesale prices without passing on the cost to its customers.

So what can we do as consumers? The answer coming from the government seems to be that UK consumers should be more willing to switch providers in search of the cheapest rates. Another statistic quoted by the Energy Secretary suggests that as many as 85% of consumers have never considered changing providers - if this is the case, it speaks volumes about the captive nature of the UK energy market. If we are not prepared to switch provider for the sake of a better deal, why do we expect our suppliers to continue offering competitive rates?

Reducing consumption can also help to break the cycle of ever-increasing prices. By consuming less power, we will make it more realistic for alternative power sources to be used to satisfy the bulk of UK energy needs. The quicker we reach a position from which this is achievable, the sooner we will stop consuming fossil fuels at such an excessive rate. When this happens and demand for fossil fuels is reduced, prices for fossil fuels will drop - although this may have less of an impact on energy prices once we rely largely on renewables, it will have a positive impact on the environment and it will free up valuable fossil fuels for other important applications, such as the production of medical-grade plastics.

There are many simple ways to reduce electricity consumption in a home or office. Replacing inefficient lightbulbs with their most energy-efficient counterparts is one of the quickest and easiest ways to ensure lower energy consumption, particularly during the winter months. Improving insulation in the home can also reduce reliance on electrical heating (or gas heating), as can donning an extra layer of clothing before reaching for the thermostat. Televisions and computers that are normally left on standby can be switched off, phone and laptop chargers that are not in use can be unplugged, and interior lighting can be limited to the rooms currently occupied.

Jessica Modul - About Author:
Energy Choices is a leading provider of information, news and comparison services relating to the UK energy industry. Consumers interested in energy matters as diverse as business tariffs and combi boiler insurance will find all they need at the Energy Choices web site.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/lack-of-competition-key-in-rising-energy-prices.htm

Related Business Articles Subscribe to RSS

How to get Alaska auto insurance
Published by Insurance Inde on January 13th 2012 | Business
Everyone seeks for the protection of their autos and if you are a native of Alaska then protection l...
 
Gas boiler repair companies, London
Published by Kewinzork on January 11th 2012 | Business
When someone starts living in a house then he/she is very excited and wants to make sure that everyt...
 
Factors involved in deciding the cost of long term care insurance
Published by Ashish Pandey on March 28th 2012 | Business
You need to keep in mind some factors in order to decide the cost of long term care insurance. Have ...
 
The best site for Idaho auto insurance
Published by Auto Insurances on January 16th 2012 | Business
Although Idaho is one of the least crowded states in the United States, it does not mean that living...
 
Fast and efficient insurance verification services for healthcare facilities
Published by Outsource Strategies International on January 12th 2012 | Business
Fast and efficient insurance verification services for healthcare facilities simplify the workload o...
 
Why Boiler insurance is Important No Matter What the Time of Year
Published by David Samson on March 23rd 2012 | Business
This articles looks at reasons why it is important to take out boiler insurance even when the weathe...
 
Dental insurance billing services help maximize revenue
Published by Outsource Strategies International on February 3rd 2012 | Business
Dental insurance billing can help dental practices streamline their revenue cycle. Proper dental ins...
 
Get hassle free approach to grab best auto insurance deals
Published by Mike Stover on December 29th 2011 | Business
Searching and then finalizing the best auto insurance is a tough and big job. You need to be very ca...
 
Compare auto insurance quotes via internet- safety measures:
Published by on April 4th 2012 | Business
Selecting effective and affordable car insurance might not be an easy task, but you can simplify it ...
 
Where to search for the best car insurance quotes?
Published by John Nikolas on November 30th 2011 | Business
Are you looking for good car insurance quotes? If so then internet is the best place that can help y...
 
Europe wide insurance for motorbike breakdown cover
Published by Tom Green on May 16th 2012 | Business
This article is about the different types of breakdown cover available across Europe for Motorcyclis...
 
Some useful combi boiler facts
Published by Robertham on April 26th 2012 | Business
Combi boilers are the most preferred option when setting up hot water supplies and central heating s...
 
Dental insurance billing services help maximize revenue
Published by Outsource Strategies International on February 3rd 2012 | Business
Dental insurance billing can help dental practices streamline their revenue cycle. Proper dental ins...
 
Heat your home today with a Combi boiler
Published by Kellybrook on February 24th 2012 | Business
Combi boilers are heating devices built for both your home heating system as well as for your domest...
 
Basic information about public liability insurance
Published by Lauraallen on April 3rd 2012 | Business
You can understand the importance of public liability insurance only when you face bad time in your ...
 
Professional liability insurance
Published by Francesca on December 1st 2011 | Business
More and more professionals and companies decide to protect themselves by insuring themselves with a...
 
Top facts – California auto insurance
Published by Auto Insurances on January 14th 2012 | Business
The grade point averages of the youngsters in the family will be quite attractive enough to get the ...
 
Understanding difference between extended Lexus Car Warranty and insurance
Published by Ashish Pandey on February 8th 2012 | Business
By buying the Lexus car warranty from reliable sources like www.lexuscarwarranty.co.uk you can alway...
 
Understanding critical illness insurance and its technicalities
Published by Julia Roger on May 10th 2012 | Business
Those persons, who have kids, should look for those insurance plans under the critical illness insur...
 
Choosing the best life insurance quotes amongst all available
Published by Alex Alben on December 14th 2011 | Business
Not every one understands the importance of life insurance policies. But those who understand know t...