UK shale gas projects are unlikely to bring energy prices down, claims the Energy and Climate Change Committee

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Shale gas projects would help the UK be more energy-independent, but reaping the same benefits as the US in unlikely, Love Energy Savings comments.

Love Energy Savings compare cheap home and businesses electricity and gas prices to find the best rates

Households and businesses will need to find their own ways of reducing their energy bills

by investing a bit of time and money into making your home or business more energy efficient, you could see some big savings on your energy bills and impact on the environment.

In its April 26th report, The Energy and Climate Change Committee has warned that the government should not base its energy policy on shale gas extraction lowering future home and business gas prices, as it is in no way certain.

In the report, MPs argue that the kinds of benefits seen in the states are unlikely to be reciprocated here.

The US saw its gas prices fall to the lowest in the world after widespread investment in shale gas, mainly due to low population density, federal subsidiaries, a favourable regulatory regime, and mineral rights for landowners.

The UK faces a very different set of challenges, however, and currently, the extent of recoverable resources in the UK is unknown.

Without investment, the UK’s ability to meet climate change targets would also become impossible. Development of commercial carbon capture and storage technology and infrastructure is crucial to determine the role shale gas can play in the UK’s energy mix.

Tim Yeo MP, Chairman of the Energy and Climate Change Committee said: “The current slow pace of CCS development is incredibly frustrating”, adding; “developing technology to capture and store carbon dioxide will be absolutely essential”.

With UK home and business gas prices unlikely to decrease due to investments in shale gas, the public cannot afford to be complacent in the hope the government will find the miracle fix like that in the US.

Jonathon Stead, Marketing Executive at Love Energy Savings proposed: “by investing a bit of time and money into making your home or business more energy efficient, you could see some big savings on your energy bills and impact on the environment.”

He also added, “Ensuring you’re getting the best deal on your home and business gas rates is essential. By using a comparison service like Love Energy Savings, you could save up to 40% per year”.

For some quick information on easy ways to make your home more energy efficient, or for an instant online home or business energy price comparison visit http://www.loveenergysavings.com

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