2010-07-21 09:36:44 - Peak oil, the point where consumption of oil is no longer matched by new oil produced is set to lead to an increase in energy prices in the next few years.

Lloyds has predicted that peak oil could be reached in the few years which will lead to a an increase in energy prices. The UK like many countries will see prices of energy increase as we try reduce our dependace on oil ad gas through renewables. One of the main problems facing many countries is the over reliance on fossil fuels.

The lack of agreement in Copenhagen in December has lulled many countries into a fals state of calm regarding fuel prices increases. Wayne Morris of the big green company says ' oil prices will be under pressure in the next few years as countries try to increase their supply. The introduction of solar energy to the UK should ease some

of the pressure as homeowners and businesses use solar energy to generate their own power.'

The introduction of the feed in tariff in the UK pays homeowners a guaranteed rate of return of 41.3p per kw. This means the typical income is around £1,000 pa