Saturday, 14 May 2016

Do we still need coal?

Is this the beginning of the end for coal?

A 'historic turning point' has been reached, as declared by green energy supporters.

In the UK, part of our electricity is generated by coal. Last week the amount of electric energy that is created from coal fell to zero late on Monday 9 May, and remained this way until the early hours of Tuesday morning.

The last time this occured was during 1882, when the world's first public coal-fired generator opened in Holborn - according to Carbon Brief, reporters of climate science.

On top of this, our carbon emissions are now the lowest that they have been for at least the past 20 years. This shift in electrical energy generation has helped to cause this reduction, and the demand on electricity supplies in general have remained at a fairly flat level over the past ten years.

But what does this mean for energy prices?

The government have always been aiming to phase out coal generation by 2025 due to it's level of pollution, and with renewables on the up this is beginning to look like an acheivable target. With electricity less dependent on the fossil fuels of the industrial revolution the cost of producing the energy should begin to decline.

With companies looking to keep their profit margins looking healthy it's anyone's guess where the market will go, but the advice remains that looking around for the most competitive prices will continue to be the most effective way of saving money on your energy spend.

The Energy Advice Line is a free and impartial price comparison service, allowing you to compare the most competitive quotes in the UK and always end up with the best price for you. Find out more and get a quote today at energyadviceline.org.uk