5 Facts About The Energy Industry

Image of a wind mill.

Although energy is constantly around us, how much do we actually know about energy and the energy industry?

Gas and electricity are often the most used resources for both domestic and commercial applications. Most types of businesses from various sectors can be reliant on each other, but all businesses are reliant on energy. Whether it’s a small start-up business or a large enterprise, they both have the same needs from the energy industry for their day-to-day operations.

If you would like to know more about the energy industry, then here are 5 facts to conciliate your curiosity.

 

The World’s Biggest Market Is Energy

Energy is, in fact, the world’s biggest market. The entire global energy market is more than double the size of the global agriculture and it is also triple the size of the global automotive or chemical industries. When you consider the demand and the requirement for energy, it’s no surprise to see that the market for energy is growing at a quicker rate than the population. At any given time, there are an estimated 15 trillion watts of power being used across the world. Although there is a tremendous consumption of energy worldwide, there has also been a significant growth in the low-carbon and renewable energy sectors.

 

Renewable Energy Is Growing

According to the UK energy statistics, renewable energy was responsible for providing nearly 30% of UK power between April and June 2017. This was a new record as it was up by a quarter during the same period of the previous year. This is due to the efforts of increasing the number of wind farms on the land and around the coasts of the UK. The UK has significant offshore wind power capacity which makes wind farms an excellent source of energy. Renewable energy will continue to be an important part of reducing emissions.

 

Steam Coal Power Is Inefficient

Did you know, that only around one-third of the energy from a steam coal power plant actually makes it to consumers as electricity? This shows how inefficient the traditional coal power was and this sparked debate for renewable energy. Not only are the coal reserves rapidly depleting, but there are several other concerns including the rising CO2 levels and energy efficiency.

 

Independent Energy Suppliers Are A Common Choice

People that switch energy suppliers are commonly finding that the independent suppliers are able to offer more favourable deals than some of the larger energy suppliers. Over 40% of people that switch, go with independent energy suppliers. This statistic shows that many people are now beginning to move towards independent energy suppliers due to the cost-saving benefits. Just by spending a little more time comparing, you could find a significant difference in tariffs between suppliers, which ultimately helps you save more on your energy bill.

 

Many Brits Have Never Switched Energy Suppliers

According to a survey conducted by GoCompare, the research found that 45% of people in the UK have never switched their energy suppliers. Whether it’s due to the inconvenience or lack of knowledge, many Brits decide on a supplier and simply stick with them for long-term. There may be better deals on the market and you can find out simply by comparing. The switching process is actually relatively easy and if you compare deals with an energy comparison website, they can often manage the switching process for you.

 

Compare Business Energy Online

If you’re looking for a new business energy deal or simply want to compare energy contracts online, then please fill out the business energy comparison form and leave it to our saving experts to find the most favourable deal for your business. In the meantime, if you have any questions or if you are unsure of what you are looking for, then please don’t hesitate to contact us.

Call us on 024 7509 5180 or you can email us at quote@comparenergyonline.co.uk.

 

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