Energy bills set to reach £2,000 a year!

Energy bills will skyrocket to unaffordable levels by 2015 unless the Government acts now, says a new report.

The Government may soon be completely in charge of the energy market in the UK, with far reaching changes needed to prevent energy bills skyrocketing to £2,000 a year, energy watchdog Ofgem has warned.

The regulator has concluded its Project Discovery report, with some shocking findings. Chief among them is the suggestion that unless the infrastructure behind the energy market is completely revamped, we will face energy costs spiralling out of control.

For many of us, gas and electricity will be simply unaffordable - and that could mean the lights going out across the country.

Nab a Feed-in Tariff:

This week, the Government finally unveiled its plans for feed-in tariffs (FiTs), and they should definitely be on your radar if you want to keep your energy expenditure as low as possible, over the long-term.

Basically, homeowners will be paid for generating their own power, through measures like rooftop windmills and solar panels.

And doing so could prove pretty lucrative - according to the Department for Energy and Climate Change, fitting a typical 2.5kW well sited solar photovoltaic (PV) installation could see the homeowner handed up to £900, as well as savings on their electricity bill.

In fact, any surplus energy created can then be sold on to the National Grid, earning you even more cash!

Reference: lovemoney.com

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