Let’s get you powerful savings

Get benefits

Our energy experts are desperate to start bringing you benefits.

Get Savings

The moment you contact us, we’ll start looking for powerful savings.

Get Peace of Mind

We guarantee to find you the right tariff for the right price*

Call Us Now 0800 043 0423

Monday to Friday from 9am to 5.30pm

Enter your details here

Send us your info - we will get in touch you watch the savings roll in

By submitting your details you agree to our terms & conditions and privacy policy. We promise we won’t share your data with others for marketing purposes.


Wholesale Energy Prices Update 02/02/18 - Oil Slumps

UK forward annual gas and electricity prices And so it continued with the markets maintaining their recent downward trajectory, except with oil joining the party. Oil prices slumped on the back of America increasing their storage levels for the first time in 10 weeks. It was further compounded as US oil production topped 10 million barrels for the first time in decades and there was cause for concern across the markets about whether the OPEC cuts will be enough to remove the remaining glut. As the US Dollar pulled back some of its losses, those commodities priced in dollars garnered less attention from the markets, which further pressured oil downwards. In Europe, the Dutch regulator announced that recent earthquakes there would reduce the permitted volumes from the large Groningen field and this caused gas prices to spike mid-week. Brent finished down 2.7%, ending the week at $68.58 a barrel. preceding 12 months wholesale energy prices The cold weather helped gas demand climb in the UK, but the system coped well again, with higher imports and flows through the Belgian inter-connector. With the cold snap expected to extend into mid-February, prices held firm in spite of the well supplied market - although this was tempered by strong renewal output earlier on in the week that helped minimise power station demand. With continuing good availability from the power stations, electricity prices kept pace with gas and the addition of strong wind output throughout most of the week kept generation demand low. Support from a returning nuclear plant added resilience to the market. There were only limited falls in all contracts last week and with cooler weather forecasts in place for February, plus higher demand, prices should remain steadier for the time being. With the prices continuing to be so inextricably linked to weather patterns, and demand as a firm direction for other fuels is sought, we urge clients to continue monitoring markets closely and be ready to contract quickly, should the tariffs fit their budgets.

Published by Utility Helpline on (modified )