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 12/10/2018

Wholesale energy prices fell sharply last week as markets cooled down. Warm weather across much of Europe, carbon prices retreating from recent highs and a stronger pound all contributed to the downward correction. European storage levels, which have worried insiders for much of the summer, have reached volumes similar to this point last year. But traders have so far resisted a mass sell-off in the belief that this winter still holds a risk premium. A recent oil price rally lost some of its steam as hurricane Michael tracked away from the big oil producing areas of the US. An oil demand-reducing trade war is also looking more likely and US storage volumes show a 6-million-barrel jump. Brent closed the week down 4.4% at $80.43 per barrel. In the UK, the gas system was well supplied again. Norwegian flows were healthy and demand for gas is still below seasonal levels because of the mild weather. High wind output has also reduced the demand for power station gas. With gas, coal and carbon all falling, prices tracked downwards. All contracts saw sharp falls on the week, but they did rebound on Friday. While some of the risk is being sucked out of prices, they are still holding above levels seen at this time last year. Shorter-term contracts are holding onto a healthy premium over the following years. Even though European storage volumes are near seasonal norms, several factors could push prices back up. A messy Brexit still hangs over the value of the pound and exactly what the weather does this Winter will be a mystery as always. After some recent rises, prices are now similar to their August levels. Many clients may find this an attractive price, but clients that are prepared to wait and take on the extra risk may wish to watch the direction of the market before committing.

Published by Utility Helpline on