Energy and Utility Management Consultants

Two thirds of UK open to fracking, Energy Act finalised

December 2013

 

Fracking has returned to the political limelight this week, with news that the government will be opening up 60% of the UK’s land to shale gas licenses. This follows a government commissioned report, which suggests financial incentives and revenues of up to £1bn could be injected into communities willing to accept fracking. The report also suggested that at its peak in the 2020’s, the UK shale gas industry has the potential to provide up to 25% of the UK’s gas supply and 32,000 jobs. However, fracking remains a contentious subject and this recent announcement has met fierce opposition from environmental groups.

On 18th December the Energy Act received Royal Assent in the House of Lords, the final step in the passage through parliament to becoming a law. The Energy Act encompasses several aims, including the replacement and upgrade of capacity in the grid to meet rising electricity demand, fewer tariffs and increased protection from utility suppliers for domestic consumers, the setting of new decarbonisation targets and increased nuclear regulation.

CTP were asked to undertake procurement on a gas account which was with a poor supplier but could not move due to the contracting party having a poor credit status. CTP liaised with suppliers and found a supplier who was willing to contract with no additional terms, saving paying a deposit of at least 27% of the contract value and a contract that was more than 20% lower (£1,309) compared to the current contract rates.

If you aren’t already benefitting from our full Utility Bureau Service (UBS) - which includes completely impartial and professional energy procurement and utility consultancy, and invaluable advice on energy management - there couldn’t be a better time to get in touch to see how we can benefit your business.

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