Could shale gas lead to cheaper energy bills? - 30/01/2012
People looking to switch energy supplier in order to find cheap gas deals may be hoping advanced production methods for extracting the fossil fuel could help cut costs.
The Daily Express reports new techniques for exploiting untapped gas reserves trapped inside rock - so-called shale gas - have led to prices tumbling in the US, with some predictions suggesting consumers in the country will save up to $16.5 billion (£10.5 billion) in energy bills this year.
Plans to exploit the technology - known as fracking - are also underway in the UK and other parts of Europe, though analysts have cautioned against the results in the US being repeated.
Ernst & Young noted the US is a much friendlier place for energy companies to do business, while the cost of the technique is higher in Europe due to the continent's geology and higher population density.
A moratorium has also been imposed on the practice in France while its potential dangers are fully assessed.
This month, several energy suppliers have cut the cost of their domestic gas tariffs in response to falling wholesale expenses for the commodity.
If you want to find out more about gas and electricity and how you could save up to £389 in minutes, click here.
Share this story with your friends:-
Save up to £300 on your gas & electricity bills at energyhelpline.com
Compare prices from all energy suppliers to find your best deal