Full Power Utilities for Farms:
towards Net Zero
There are many contributing factors to the increase in energy prices over the last few months. A lack of LNG (Liquified Natural Gas) supply into UK ports and low European storage levels all contribute to record high prices. In addition, low wind generation meant the UK grid was heavily reliant on gas and coal to meet power demands.
However, more recently, with the continued alarming situation between Russia and Ukraine, UK prices spiked again. Suppliers fear for substantial supply disruptions. Although Russia has said it will keep exporting natural gas, it could halt flows in retaliation against harsh Western sanctions. Analysts are also worried about the ability to refill natural gas inventories before next winter, which could be more complicated if the Ukraine war prolongs, meaning the high price rises we are seeing could be around for a lot longer.
As a result, while the market continues to be extremely volatile, many suppliers have decided to suspend pricing, or some choose to pull prices within hours/days of quoting.
"For most business owners' price is the main driver of any decision, especially when consuming a large amount of energy. Trying to find additional £ 1000's to allocate to their energy bills each year can be a worrying time. We work with over 40 commercial energy suppliers, all of whom have unique strengths. In the current market, timing is everything and using a well-established energy consultant will help you choose the right supplier, at the right price, at the right time." Joey Kolirin, Energy Consultant, Full Power Utilities.
If you would like some helpful advice and a free energy review on your costs, get in touch with our energy partner today.