A lot of new and seemingly conflicting information has been published recently regarding energy prices. The bad new is that energy prices in May 2011 were 27% higher than 12 months ago. Part of this is due to increases in gas prices which tend to lag oil price increases by around 6 months. There will be further pressure on gas prices due to the decision by Germany to phase out nuclear power by 2022 as the shortfall in power plant capacity is likely to be filled by gas fired plant.
The good news is that there is a great deal that most organisations can do to reduce energy costs. Most energy saving recommendations have paybacks of less than 12 months. If your energy spend is over €20,000 per years than an energy audit is worthwhile.