On Tuesday, for the first time in three and a half years, the price of natural gas from the US fell to under $2 per mBtu (million British thermal units). The base price of US natural gas has now fallen 15% in the last three quarters.
The Mayor of London has joined the raging debate currently surrounding the planned cuts to the solar industry, which have been put forward by the conservative energy minister.
On Monday, a spokesman from the White House announced that a further 68 companies had signed the “American Business Act on Climate Pledge”- adding to the 13 companies that originally signed. However, there are several big energy companies whose names can still not be found on the dotted line.
The UK’s withdrawal of renewable energy subsidies has been criticised as “disappointing” by a UN scientist in the wake of roundly positive action to fight climate change from 150 other countries ahead of the conference in Paris next month.
A proposal put forward by the solar industry in the UK is aimed at saving the renewable energy sector in this country. The companies that have put the plan together say that it will only add £1 per year to people’s energy bills- in addition to the £9 per year that is already paid towards renewable energy in the form of subsidies.
David Cameron has set up a top-level meeting with some of the most prominent figures in his government in order to tackle the growing concern over the country’s energy supply.