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Businesses must act now for future energy price hikes | 11 December 2011

A new report has revealed that energy prices have risen by 77 per cent in 2004, FM World reports.

The revelation that prices are likely to increase by an additional 81 per cent over the next ten years, will no doubt be cause for serious concern for business decision makers and facilities management personnel.

The Energy Price Challenge report, commissioned by Power Efficiency and market analysts, Waters Wye Associates, predicted that electricity costs will almost double from 7.8 pence per kWh last year to 14.7 pence in 2021, resulting in a considerable increase in overall bills for the average office space.

Gas too is expected to rise by 60 per cent from last year’s 3.4 pence per kWh to 5.4 pence in 2021.

Consequently, the experts are urging FM and senior management to ensure they create and implement energy management strategies now, adapting their budget as appropriate.
Commenting on the findings, Mark Callaway, Power Efficiency’s energy markets director, told Oil Fired Up: “Both the UK public sector and business at large needs to face up to a new reality. After a long period of deceptively low energy costs, we have emerged into an era or high and rising prices that have made effective energy management a board-level issue.”

Written by Elizabeth Smythe on behalf of Qube Global Software

While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.

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