Shale Operations Don’t Impact Real Estate Prices, Says DECC

The British Department of Energy and Climate Change (DECC) stood against an article published by the Sunday Times, saying that shale gas operations should not impact real estate prices. 

‘There is no evidence that house prices have been affected in over half a century of oil and gas exploration in the UK and we see no reason to see why this would change for shale gas and oil extraction,’ reads a note released on Tuesday.

The British newspaper wrote that the Valuation Office Agency has indicated that the value of houses may be reduced as a consequence of nearby shale gas operations. 

‘The VOA has not said property prices will be affected by shale gas extraction, or that council tax bands will be reduced as a consequence. The VOA will review a council tax band when a taxpayer supplies information to support their view that the banding should be reduced to reflect a change in the immediate locality.’ 

DECC further reinforced the idea that shale gas is part of British energy strategy. Its responsible development was said to be compatible with the surrounding environment. 

‘We are putting in place stringent regulations, safety and planning regimes to encourage the responsible development of shale gas in line with our environmental objectives.’