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The energy market is the lowest its been in over 10 years

We’re trying to focus on some positivity during these tough trading conditions, and there is a blue flame of hope for those gas using businesses. The Coronavirus pandemic has already made a huge impact on the gas market, resulting in the lowest wholesale prices in over 10 years. Of course, this is providing the LNG supply stays high and the market remains free from any sharp spikes in demand. You can read more about how the Coronavirus is making an impact on the gas market here.

You read that right, the cost of gas is at the lowest its been for over 10 years! Renew your contract now and start saving. It doesn’t matter if your contract isn’t up for renewal yet, we can look at contracts up to 4 years in advance. Now is the perfect time to take advantage of the extremely cheap prices. And as we’re currently in lockdown, you have more spare time now than ever before, use that time to look into your contract and get some good out of the Coronavirus. So when this is over and you can get back to normal, you can be assured that you will be saving money by renewing with us.

We’ve even made it super easy for you to find out how much you can save, all you have to do is use our comparison site, which you can access by clicking here.
We are here to help you in any possible way we can during these uncertain times. You can speak to a helpful and friendly member of our team for any help and advice.

   

Gas ring

How the Coronavirus is making an impact on the gas market

The gas market is the lowest it’s been in over ten years! Why? The Coronavirus.

What does the Coronavirus have to do with the gas market?

Well, according to this CNG blog, “This is off the back of an oversupplied market due to high levels of Liquefied Natural Gas (LNG). LNG is natural gas extracted from fields that has been super-cooled down to liquid form for ease and safety of non-pressurised storage or transport via tanker ships. Prices of LNG hit record lows last week”. Chinese buyers have turned away shipments due to the outbreak of the Coronavirus. This has forced traders to search for alternative destinations for tankers, Europe being the likely destination.

As Europe’s storage stock is also at unseasonably high levels, this could mean the gas market can potentially remain low through into early summer of 2020. Of course, this is providing the LNG supply stays high and the market remains free from any sharp spikes in demand.

What does this mean?

This is extremely positive for customers. It’s a great time for renewals and new business. Do you have a contract coming up for renewal soon? Get in touch with a highly experienced and friendly member of our team today, to discuss what we can offer. We have a 100% success rate for beating renewal costs, find out here using our free no-obligation price comparison.