Fuel Poverty Affects Both Households and Businesses | Get Financial Freedom Tips | Transform Your Financial Future


Thursday, November 29, 2012

Fuel Poverty Affects Both Households and Businesses

Increasing Fuel & Energy costs are becoming an regular occurrence to many households and businesses within many parts of the world. 

A household within the United Kingdom is considered to be fuel poverty if they have to spend more than 10% of their household income on fuel to keep the home in a liveable and satisfactory condition. Reports suggest that “fuel poverty” affects one in five households within the UK but it is also having an effect on businesses, especially small enterprises. 

Fuel poverty has been a growing issue within the United Kingdom since the global recession started back in 2008, with many of the rising bills being associated with the rising cost of natural gas. 

Fuel prices have also risen due to increases in fuel duty taxes implemented by the Government. Such duties have been heavily criticised by many large business owners who believe that such decisions will do nothing but continually hinder economic growth.

Fuel Poverty Affects Both Households and Businesses

If you are one of the many households or businesses across the globe who are struggling with the rising cost of essential energy bills such as fuel costs, electricity and gas there are many simple changes that can be implemented that can make you become more fuel efficient. 

Energy Saving Tips 

There are plenty of simple and affordable changes that can be made to every household and business that will only improve energy efficiency. Here are a few of the most common ways you can save on energy bills through home improvements:- 
  • Use Efficient light bulbs
  • Replace old boiler 
  • Invest in double glazed windows
  • Cavity wall and loft insulation 
  • Heating controls e.g. set timers for the heating to switch on 
  • Draught proofing
Fuel Saving Tips 

Despite the UK emerging from recession in the last quarter of the financial year, as previously stated, many businesses and families are still under real pressure; however the government are still holding plans in place to increase the price of fuel by a further 3p at the turn of the New Year. With all of this in mind it is imperative businesses and families do all that they can to reduce the burden of such an essential cost. 

For businesses that require the use of vehicles for day to day operation the acquisition of a company fuel card is crucial. Fuel cards are great for transport heavy businesses as they offer fixed weekly pricing across thousands of refuelling locations therefore protecting the company against sudden, sharp rises in fuel costs, which is so often variable on location. Petrol and diesel fuel cards also offer a fantastic online fuel management system allowing business owners to monitor spend and budget appropriately. 

For families savings can be attained through a few of the following simple techniques:- 
  • Avoid un-needed use of the car. If possible look for alternative transport methods such as cycling, walking and public transport. 
  • When it comes to filling up your vehicle with fuel shop around for the best deal. The lowest prices are usually located at Supermarkets who can offset a loss on fuel with profit margins attained within the store on general produce.  
  • Preventative maintenance is an essential cost that will in turn ensure you vehicle performs to optimum efficiency. Service the vehicle at each interval and regularly check tyre pressures. 

1 comment:

  1. High energy costs are a problem throughout the world. People have to decide whether to buy fuel for the car or heat for the house or pay the credit card bill.