Friday Energy Update 28/7/23

There has been a lifting of prices over the last 7 days albeit mildly.

This can be attributed to the following reasons:

• Lack of LNG – This decreased by 17% when     compared to the same day last week.
• Drop in wind output to cover shortfall.
• Further Norwegian plant maintenance. Scheduled     for next week – First week in August.
• Increased demand from lower temperatures.

Once temperatures increase in the UK and cool in Europe then this may help the market although we may only see a plateau due to the Global LNG pressures currently. If this goes into Autumn/Winter then we will probably see larger increases over this period prior to decreases again from Spring. Particularly if there is still maintenance issues in Norway as they are the UK’s largest supplier – at around70% of our needs.

Get in touch

We are currently saving our clients, up to 60% on their utility bills. Please feel free to contact our Business Efficiency Team, on 01273 424904. So, we can provide you with recommendations around reducing your energy costs.

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