Graph showing energy costs rising

Collected from last weeks press:

Fear of ‘huge’ energy bill rises

Domestic energy bills in the UK could rise by 60% by 2016-17, the energy regulator has warned.

However, this would be the “spike” in bills, with prices estimated to rise between 14% and 25% above inflation by 2020, the Ofgem report explained.

The review also said that up to £200bn of investment was needed to secure supplies and to meet carbon targets.

Firms unaware of carbon commitment

More than two-thirds of businesses in the UK are unaware of the Carbon Reduction Commitment (CRC) legislation, an insurance and energy management firm has revealed.

According to RSA, 41 percent of firms do not know about the CRC, while three-quarters of companies are in the dark about when the legislation comes into effect.

This could see more than 5,000 businesses having to deal with rises of at least £55,000 in energy costs from next year.

Companies will have to offset carbon through buying allowances for every tonne of CO2 they emit.

Alex Matthias, energy management leader at RSA, urged firms to focus upon energy efficiency and environmental responsibility.

We echo these final sentiments.