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The wholesale market has plateaued currently with light increases occurring over the last 7 days. This is mainly due to supply pressures with LNG affecting sporadic days. Where there has been a gas shortage on the day the market has increased minimally before dropping back out again. Wind generation is supporting our market successfully at the moment and helping to keep increases to a minimum.
However, a change to recent trend, nevertheless
The latest third-party cost forecast has been released for electricity.
Non-commodity costs now make up around 43% of an electricity unit rate/bill and whilst wholesale is forecast to decrease over time these non-commodity costs are set to increase.
Non-commodity costs are those that originate from a third party, such as the Government, which are then passed on to your energy supplier and added to the bills of end users. They are also referred to as pass-through charges for this reason. Broadly they fall under three categories – Renewable Obligations, Use of System Costs (National Grid/Network Operators) and Taxes/Levies.
Normally these costs are built into the unit rate for small supplies and for larger supplies they can be charged separately. It is important that you choose the correct contract for your care home as these costs impact all types of agreements (fully fixed, fixed, flexible and pass through. It is also important to check supplier Terms & Conditions as some will increase costs during a ‘fixed’ term – and can leave you spending thousands more than you should.
At Quality Care Group, we can help you choose the right contract, supplier and to secure rates at the right time so that you are not caught out by these charges and assist in keeping your costs as low as possible.
Please feel free to contact our Business Efficiency Team, on 01273 424904. So, we can provide you with recommendations around reducing your energy costs.
Information provided on energy prices is subject to constant change and is influenced by numerous factors, such as supply and demand, market conditions, geopolitical events, and weather patterns. As such, any information or analysis provided on energy prices is intended for general informational purposes only and should not be relied upon as a sole source of information or as a substitute for professional advice.
While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the information provided. Any reliance on such information is at your own risk, and we shall not be held responsible for any loss or damage resulting from the use of such information.
Additionally, please be aware that energy prices can fluctuate rapidly and can be affected by unforeseen events. Therefore, any information provided on energy prices may be subject to change without notice.
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