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Energy Savings
We specialising in reducing the costs of gas and electricity for all size businesses. |
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| What's behind all the price rises |
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Why have gas & electricity prices increased so much?
Over the last couple of years the wholesale cost of gas has risen in the UK for a number of reasons.
Declining UK Gas Production - Most of the gas in the UK used to come from the North Sea (UK continental shelf). Production from these ageing gas fields is now in steep decline, to counteract this unexpected decline the UK has been looking to more expensive alternatives, such as imported gas from other European markets.
Imported Gas Expensive - Imported gas has become expensive and difficult to get hold of. This is because we rely on European networks to transport gas to the UK. These networks are owned and run by a number of national monopolies who are yet to be liberalised.
Reliant on Expensive Gas Storage - The UK has become increasing reliant on gas storage to cope with winter demand. As the UK is short of storage, the price for this type of flexibility is very high and is a major driver of supply price.
Rising Oil Prices - Oil has a major influence on gas prices in Europe, where competition has only just started to develop. As the UK is now linked more directly to the European gas market, any rise in oil has an influence on the UK gas prices.
Gas vs Electricity - The volatility in the gas market has created a knock on effect in the electricity market. This is because a large amount of the UK’s electricity is generated from gas fired power stations.
What impact has this had on UK Businesses?
Energy costs can be a key element of many businesses expenditure and therefore has a big impact on their bottom line. Most UK businesses have already felt the pinch of rising gas and electricity prices and consider this to be an uncontrollable overhead. This however is not the case!
Time & resource issues mean many businesses leave the negotiation of their gas & electricity contracts to the last minute, this leaves only a very small window of opportunity to make savings. By reviewing your energy contracts earlier you are more likely to reduce the impact of rising energy costs.
It is vital to understand your contract renewal date and what notice period you must serve in order to take advantage of savings that are available in the market.
This is just one example of how the Utility Helpline can help and advise you on elements of your contract to achieve a better deal for your business.
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