U.K.’s Trade Union Calls for Energy Review to the Reduce Need for Fracking

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U.K.’s Trade Union Calls for Energy Review to the Reduce Need for FrackingBritain’s second-biggest trade union Unison has tabled a new proposal that advocates for carrying out energy review in private homes in order to save funds and pull the plug on the growing calls for fracking.

It is calling for a house-by-house appraisal of all U.K. households, which will help decide whether any renovations are needed in order to ensure each house will use minimum energy. It states that this would result in cost savings of 300 pounds to 600 pounds per household every year. It argues that U.K. has the oldest housing stock in Europe, with most homes requiring twice the average amount of energy used in homes in other similar developed countries in order to keep warm, reports BBC.

Unison proposes that low-income households will have the assessments done for no charge, while other homes will be given an interest-free loan to undertake the review. The union also said that Britain is near a crisis point on declining natural gas supplies and that the country will have to import almost 70 percent of its gas in five years.

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“The government must take action to bring millions of households in from the cold. Unless the government invests in a long-term strategy to preserve our dwindling North Sea gas supplies, we will be relying on expensive imported energy and wide scale fracking for shale gas,” said Dave Prentis, Unison’s general secretary.

Recently, the Queen’s Speech early this month confirmed plans by the government to push for changes to the trespass law in order to allow energy firms to drill beneath private property without having to seek the owner’s permission.

Fracking or hydraulic fracturing is a controversial oil and gas extraction method that involves pumping a mixture of water, chemicals and sand deep into the underground shale rocks at high pressure in order to release the oil and gas trapped there. Proposals to introduce it in the U.K. have been met with stiff protests, with demonstrators arguing it pollutes groundwater supplies and can trigger earthquakes. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Jonathan Millet at john@forexminute.com