A number of our elected politicians are stating that fracking will lead to reduced gas prices for us all, because it did in the USA. In the US, fracking (for shale gas) started in earnest in Texas in the 1990s, the attached graph suggests that consumer prices haven't fallen - they've roughly doubled (in nominal terms) since fracking started. Of course, inflation has eroded the buying power of the US$ over that period, and who's to say what current prices would be without fracking - but please politicians (Cameron et al.), don't lie (to yourself or others)!
Even if UK consumer gas prices were to fall, our water bills would likely soar because;
- Producing and distributing potable water is energy intensive;
- Consumption of potable water is going to go up to supply frackers;
- Considerable infrastructure investment will be required to treat the dirty water generated by frackers.
Even Cuadrilla (currently drilling in Balcombe) state that a gas boom would have a “basically insignificant” impact on consumer gas prices in the UK.