Don’t expect fracking to significantly reduce UK gas prices, advise sustainability engineers
Energy prices continued to fall by a further 1% in the third quarter of 2013, latest data from the Lorien Energy Index (LEI) has revealed. It still shows an overall increase however, of 8% over the past 12 months.
The Lorien Energy Index, which is produced by Lorien Engineering Solutions, monitors the overall cost of energy for business users. It enables companies of all sizes to make sense of their current energy consumption and look at ways they can make savings in the future, by being energy efficient and utilising low carbon and renewable technologies to boost energy security.
Current industry expectations are that energy costs will continue to rise, putting the spotlight on energy managers to act now to first conserve and then decarbonise, using technologies such as renewables, which are often regarded as a “hidden fuel”.
The International Energy Agency (IEA) recently published a market report showing that member nations’ efficiency savings now exceed the energy they get from fossil oil, leading the IEA to designate energy efficiency as not just the ‘hidden fuel’, but rather the ‘first fuel’ on the shopping list.
Lorien’s engineering director Steve Turner said that investment in “first fuel” low carbon, efficient and renewable technologies, and not an expectation that technologies such as fracking will significantly bring prices down, would help to future-proof businesses against further increases.
“The industry expectation is that fracking will not see a reduction in gas prices in the UK, especially as export prices to Europe will remain lucrative,” he said.
Lorien Engineering Solutions has recently become part of GP Strategies Corporation, a global performance improvement solutions provider of training, eLearning solutions, and management consulting and engineering services. The acquisition of Lorien Engineering Solutions adds to GP Strategies’ growing coverage of the sustainability sector.
Lorien Engineering Solutions
Lorien Engineering Solutions (LES) is an engineering design and project management organization. With operations in Burton on Trent UK and Wroc?aw Poland, the company has a staff of circa 85 specialists who design and deliver manufacturing projects in the brewing, drinks, food and life sciences industries. LES is recognized as being the UK’s top engineering projects company in the Food & Drinks manufacturing sector. Other areas of specialism are sustainable energy schemes, waste to wealth, manufacturing performance improvement, and health & safety compliance.
Working for many of the world’s top manufacturing organisations within the UK and overseas, LES was recently awarded with their 21st Gold Award, and a 7th Order of Distinction for occupational health and safety in the construction, by Royal Society for the Prevention of Accidents (RoSPA).
GP Strategies Corporation (NYSE: GPX) is a global performance improvement solutions provider of training, eLearning solutions, management consulting and engineering services. GP Strategies’ solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers.