UK Utilities, Consumers Brace for Price Hikes
The hikes come from rising wholesale gas prices as well as a carbon price floor imposed by the government.
Steep wholesale gas prices are blamed for energy price increases being implemented in the next two months by Britain’s big power providers. Added to that, in 2013, prices in Britain will increase when tighter requirements under the EU Emissions Trading Scheme (ETS) kick in, along with a domestic tax.
In the early years of ETS, many of the EU’s 11,700 utilities and industrial firms took advantage of free permits if they exceeded the set caps. But in 2013, the companies will have to pay if they exceed carbon limits. This could cost cost companies up to 1.47 billion pounds in 2013 compared to 326 million pounds in 2011, according to research from Reuters.
Things will be even tougher for UK companies compared to their EU counterparts. From April 2013, UK generators will pay an additional fee based on a government price floor. Some of this expense will be passed on to consumers.
- ASSA ABLOY: Investing in Sustainability Opens the Door for Business Opportunity
- Migration to Mobile: The Evolution of EHS Management Tools
- Mobility from the Plant Floor to the Store Door: Improve Safety, Accuracy and Productivity
- 2015 Environmental Leader Product & Project Awards
- 2013-2014 Winter Polar Vortex
- Improve Your Company's Environment and Energy Performance
- Unlocking the Value of Energy & Operational Data
- NAEM 2015 EHS and Sustainability Software Buyers Guide
- Verdantix Green Quadrant for EHS Software
- The Sustainable Edge™