A Thought about Energy Costs

I've been reading lots of articles recently about the rising cost of oil making it more viable to drill hard to reach reserves. When previously this would have been too costly, now it looks more sensible for oil companies. This is obviously not the world's best news. However, the increase in energy costs is starting to make quite a few people think about going 'green'. This makes a lot of sense since people and companies generally care a lot about what's in their pocket. For many, 'going green' isn't so much about saving the environment, but saving money.

Last week, we went to the Green Car Guide show in Liverpool. The show was mainly geared towards businesses, but the message was clear: with rising fuel costs, businesses want more efficient cars, vans and trucks. It's a simple equation - greater efficiency means less fuel, meaning lower running costs. Of course, there are other potential benefits from greener cars (lower car tax, congestion charge exemptions, and even free parking). As costs rise, this will become increasingly important for businesses (and individuals).

The other thing I have been thinking about is the rising cost of home energy. A couple of days ago it was reported that energy bills could go up by 40% (an increase that could mean paying £400 more this winter for the average household). That's a huge increase. This is what got me thinking about the interconnectedness of the oil price rises. This could, and should, make people think about increasing their home energy efficiency. Yes, it does cost money - but as energy costs rise, so do the potential savings. The investment payback time is shrinking significantly now.

So people should be thinking about reducing their heating and electricity bills this winter. There's loads of things people can do: improve the insulation, ensure their boiler and heating system is efficient, double glaze (or even more..), use low energy lighting. Aside from that there are all the easy things like turning off lights. Like many things in life, we'll change only when we're forced to. The pinch on your wallet is definitely something that will do that.