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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. 

 

   

How is the UK powered?

We have all heard about renewable energy, green energy and how low environmental impact energy can help power our businesses, we have even seen fields of solar panels and wind turbines but what exactly is that doing for us? How much power are these initiatives actually giving us?

For those of us that have Renewable Energy sources on our buildings the evidence is obvious, how much power we are generating and how that’s impacting on our bills and the energy we draw from the grid but for those who don’t the distance between renewable energy generation and the reliance on fossil fuels grows larger.

Sky new recently published an article that highlighted the sources of UK energy.

 

May was a good month for Renewable Energy!

Yes, it really was, in May the UK was powered for seven days without using any coal. This milestone has been achieved through the decades of investment in our renewable infrastructure.

Over 30% of the UK power in 2018 came from Renewable sources, installations of Hydro Power, Solar, Wind and Wave Power all contributing to achieving this great goal.

The UK main providers still have a reliance on Nuclear Power for almost 20% of its total power usage with Coal, Oil and ‘others’ making up less than 9%.

Coal power is the biggest loser from the data we can see and that trend is set to continue, the UK production of Coal has dropped dramatically and is anticipated to be less key in the UK’s power strategy year on year.