The public has condemned a decision by British Gas to raise its fuel prices by nearly a fifth. Just this week, the energy company announced that the price of gas will rise by 18 per cent and electricity by 16 per cent from August. The British Gas announcement comes after a similar price hike by Scottish Power last month and other energy companies are expected to follow suit.
The utility companies have unsurprisingly deemed the rocketing prices as necessary and as usual have blamed the global gas market as the reason for such a jump.
With these rapidly rising utility costs across Britain, along with the necessity to cut outgoings, commercial property owners may well be searching for alternative methods for heating their commercial property premises.
One alternative heating system which is being promoted is heating oil. Unsurprisingly, OFTEC is the body which is promoting this method; they say using this method of heating can bring numerous benefits to either a residential or commercial property owner.
Despite the rising energy prices, heating oil remains an economical and popular choice for rural homes, could we see this method drift into our towns and cities, especially in large commercial properties.
Jeremy Hawksley, Director General of OFTEC says: ‘Rising fuel bills mean more households are facing the threat of fuel poverty and although we are basking in the heat of summer now, OFTEC is urging consumers to do everything possible now to make sure they minimise their winter fuel bills.’
Unlike many other fuels, most heating oil customers can shop around for the best price each time they have a fuel delivery. Consumers can gain a much better price for oil when buying in bulk, rather than when supply is necessary.
Mr Hawksley went on to state. ‘Heating oil is more expensive than mains gas, but much less expensive than Calor Gas and usually it is less expensive than electricity, which isn’t a good form of central heating anyway.’
However, it is unlikely we will see commercial properties across the UK converting to this method of heating and I’m not sure it would be a very popular choice amongst those involved in the climate change movement.
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