This is according to a House of Commons Briefing Report on 9th February this year by Tom Rutherford.
The report showed that Electricity prices changed little until the mid-1990s after which they started a period of consistent falls. Continued price reductions over the following eight years saw a real reduction in the price of around 30%. Regulator-imposed controls on prices and, since 1999, supply competition were again partly responsible for the price reductions, as were the reductions in the Fossil Fuel Levy from 1996 onwards.
Electricity prices have increased since spring 2003 and, as with gas, price increases have been greater since autumn 2005. The January 2007 price peak was 44% above the 2003 low and 5% above the level immediately after privatisation (January 1991).
As with gas, prices increased in early 2008 and summer 2008 and fell back slightly in early 2009. However, unlike gas there have been no major cuts in prices since then.
The autumn 2011 electricity price rises were smaller than those seen for gas, the winter 2012/13 price rises were slightly lower than those for gas. These took cash prices beyond their winter 2008/09 peaks, but real electricity price levels are still slightly below this level.
The winter of 2013/14 saw electricity prices rise to their highest levels since the winter peak of 2008/09. Throughout 2014/15 prices fell, but have increased since the end of 2016, and now stand at the highest levels on record.
The latest assessment, for 2017, is that approximately 9% (roughly £100) of a typical household bill is attributable to low-carbon policies. In contrast, investments in energy efficiency are estimated to have saved a typical household roughly £290 per year from their energy bills.
At Energy Gain UK our mission is to help our customers make the maximum electricity savings whilst benefitting from government incentives and reducing carbon emissions.
We can help you fight back against these price increases and actually reduce the cost of your electricity to less than 3p per unit (kWh)
A SOLAR PANEL SYSTEM FROM ENERGY GAIN UK enables you to:
Generate your own electricity
Receive a tax -free payment from the government for every unit of electricity you generate – whether you use it or not
Receive export payments for any electricity you don’t use.
All of the above should cover the cost of your solar panel system and bring the cost of your electricity to just under 3 pence per unit (kWh).
If you would like to know if you could save and earn if you were to install Energy Gain UK solar panels simply click here to send us a few details and we will work out how much you could save and earn.
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Energy Gain UK offer market leading carbon consultancy services along with an award-winning construction division that installs the latest renewable energy systems.