Act now to bring down the cost of energy
15 January 2008
Rising energy prices
Consumers urged to act now to bring down cost of energy
green energy uk, supplier of 100% green electricity, is urging UK consumers to make the switch to green electricity now to avoid facing long-term high energy costs. The question being asked by green energy uk founder Doug Stewart is: Do consumers want to continue paying ever increasing prices for oil or fossil based energy and then even higher prices when oil runs out and we have to scramble to generate power from green sources to meet the demand, or do they want to pay a little more now in order to support the growth of a green economy that will ultimately provide stabilised pricing? The key to reducing energy costs, says Doug, is for green generation to become a significant part of the energy mix, so the effects of the oil price will diminish. This can be achieved through consumer demand for green energy.
It is no secret that oil is running out, and so the cost of electricity derived from all fossil fuels will keep increasing as long as the demand for electricity from them is there, and at present with the green alternatives many of the technologies are young or emerging and have potential efficiency gains yet to be realised, hence the energy they produce is also going to cost more as the money generated by green companies is reinvested into perfecting the technology they use.
According to Doug, the green alternative is the long-term solution that makes sense on almost every level, but he advises that the change needs to be instigated now by consumers to protect against the rising cost of oil. This argument is a dramatic swing away from the traditional green Vs brown electricity environmental debate and is one of utmost economic importance for UK households and businesses, and should ring bells with consumers.
Doug explains: "In 2006 we (green energy uk) were the last energy company to raise our prices and the first to drop them, and in 2007 we only dropped our prices, and this year we will be waiting again before raising our prices. The problem for consumers is that they are not being given the full picture or having the situation and alternatives explained to them, so their reliance on oil-derived electricity is maintained and it is holding them to ransom. If consumers start using green electricity now and the demand for it increases, the price should stabilise and be driven down."
Notes to editors:
- green energy uk is a young, Hertfordshire-based company which has grown substantially since it was established in 2001, and by 50% in the past year alone. It has a very unusual and radical business model: it is giving away half of its business in shares – the first 100,000 customers are getting 400 shares each. This not only gives them a potential stake in the future, but involves them in the business and its successes.
- green energy uk facilitates investment in a wide range of technologies including small scale hydro, CHP, organic waste gasification, vegetable oil and pig waste. 70% of the generation capacity green energy uk contracts were not in business when the company was formed in 2001.