Insulation Material Guide, Facts and advice

Gas firms profit, raise prices as ‘wholesale costs cut’

August 8, 2008 · No Comments

Homeowners may want to take cutting their heating costs into their own hands by installing better insulation as according to the Evening Standard, drops in the wholesale price of gas are not being passed onto consumers.

In fact, the opposite is true, claims columnist Neil Collins, pointing out that in July, wholesale gas prices fell from about 63p to 45p per therm – a unit of measurement.

Meanwhile, both EDF and British Gas announced massive price hikes equivalent to almost a quarter and over a third. Both British Gas’ 35 per cent price hike and EDF’s 22 per cent price jump, were publically justified by the rising cost of gas on wholesale markets even as the prices came crashing down.

Furious consumers have been calling for a windfall tax on profits for energy companies after the announcement – the day after the price hike – by British Gas parent company Centrica of £992 million in profits.

But irrespective of the tax, households that want to counter the rising energy bills should consider installing insulation to reduce the amount of gas and electricity they use.

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Categories: House Energy · global warming · house protection · insulation · loft · loft conversion · loft insulation · nautral insulation
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