After the increase in the price of energy, a growing number of people have reverted back to the use of logs and coal to heat their homes. One coal merchant recently revealed that he was the busiest he’s been in decades. Recently, United Kingdom officials announced an energy-support package in the government’s mini budget. However, more people are requesting for long-term decisions to be made.
Burnham Coal Supplies’ Andrew Mount stated that he’s seen customers who had been using gas turn to coal; he claims that some are even stockpiling. Yeovil resident Jo Twist revealed that her coal bunker was recently raided by an individual who had probably resorted to desperate measures, stating that she was shocked that her coal had been targeted.
In spite of this, she added that she was glad she had switched to logs and coal from oil, especially since the price of oil moved to £1,200 ($1,338) a ton from £500 ($557.6). Twist observed that she hadn’t yet started her fire, choosing to stay without using the fuel for as long as she could. Instead, she said, her visitors were using blankets for warmth. She said that she was happy her community had reached out with offers to help with the restock.
Ian Preston, director of household energy services at the Center for Sustainable Energy, stated that individuals were facing a hard and cold winter. Preston, who is in charge of the Safe and Warm Somerset program, added that people couldn’t afford their electricity and gas bills and would try to find other ways to keep themselves warm on a smaller budget.
He advised people to exercise balanced thinking when he responded to concerns about the environmental impact using logs and coal would have, noting that lower-income households were contributing to the country’s climate change targets because they had even lower carbon emissions in comparison to other households.
Burning of coal, which is the dirtiest fossil fuel, is the major contributor of carbon emissions. Greenhouse gases trap heat in the earth’s atmosphere, which causes global warming. Preston also called for long-term support from the government, which would, hopefully, include insulation for homes.
The government has revealed that households in the U.K. will save about £1,000 ($1,115) on average annually with its Energy Price Guarantee. This estimate is based on prices from October. The policy will also decrease the unit cost of gas and electricity, with a normal household expected to pay an average of roughly £2,500 ($2,728.9) annually for its energy bill in the coming two years.
The growing demand for coal in different countries around the world has helped to boost the stocks of companies such as Alliance Resource Partners L.P. (NASDAQ: ARLP), which focus on coal.
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