How to navigate rising energy markets
For those of you who regularly visit the Energy Markets Dashboard, you will be all too familiar with the below graphs showing the continuing price increases in both power and gas.
ELECTRICITY UK BASELOAD
UK NBP GAS
Seeing all six seasons as a line on a graph gives you a good idea of the trend, but to really see exactly what’s going on, it’s worth taking a point in time for each season and comparing that to today’s rates…
These bar charts and tables help give a clearer picture of how the rising costs have affected the current and future seasonal prices for both electricity and gas. The comparison shows prices from the 1st May and prices taken on the 7th October. It’s clear Winter 21 has taken the greatest hit so far, while future seasons have still had considerable increases of over 100% in three out of the five future seasons.
WHOLESALE ELECTRICITY PRICE COMPARISON
WHOLESALE GAS PRICE COMPARISON
A fully risk managed approach is paramount in providing protection against a strengthening market. Make sure you partner with an energy consultant who:
Provides you with an actively risk managed approach to purchasing energy. Whether that’s a bespoke flexible procurement strategy or our flexible energy basket, which offer protection in rising markets and opportunities to benefit when prices fall.
Provides and delivers a price-watch service to monitor wholesale market movements in line with your agreed buying strategy.
Provides annual Utility budgets with monthly monitoring of performance against budget and production of monthly position reports.
Offers you a dedicated energy trading manager who provides monthly market analysis and trading updates.
Provides access to an energy management portal that lets you drill into your energy data by meter/site/estate level.
Provides a monthly bill-validation service and a dedicated point of contact for energy billing queries. Like our bureau team, who have identified millions of pounds worth of billing errors that have been queried and credited to our clients accounts.
Introduces you to your dedicated account manager. Our account managers keep in touch with clients, helping to evaluate consumption patterns and identify ways to reduce energy consumption.
Acts as your advisor on all matters related to energy procurement, energy management and policy improvements, as well as keeping you abreast of industry matters and future developments that may impact your business.
If the energy markets are causing your business a headache, there are things that can be done. Effective energy procurement strategies can manage your unit rates whilst end-to-end energy management strategies can reduce the business impact of high unit rates. Keeping your business competitive.
Author: Robyn Miller, Marketing Manager
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