Enery & Market Update – May
Overview As of the 14 May, Gas and Electricity Year Ahead Wholesale costs are slightly lower when compared to last month’s report. As the world continues to prevent the spread of the coronavirus there has been a significant reduction in Oil demand, with Brent currently at $29.19 a barrel. During April Brent dropped to the […]
Climate Change Levy (CCL) Rates Have Changed
Changes to the Climate Change Levy (CCL) came into effect on the 1st April 2020. The changes are in line with the government’s continued commitment to rebalance the costs applied to electricity to gas bills and ensure charges are fairly apportioned. This latest change will make gas CCL costs 60% of the electricity CCL charge. […]
Mini Energy & Market Update – April
Since our last Market Knowhow Report, Gas and Electricity Wholesale prices have decreased further and remain comparable to the lows we saw in 2016. Brent Oil has fallen to below $20 a barrel; the lowest price since 1999. The US Oil equivalent to Brent (WTI) has taken a considerable hit and plunged to negative figures, […]
Energy & Market Update – April
Overview As of the 7th April, Gas and Electricity Year Ahead Wholesale costs are slightly lower when compared to last month’s report. With the coronavirus now a global issue, there has been a significant reduction in Oil demand. OPEC and Russia have yet to resolve their differences, which has led to an increase in production. […]
COVID-19 and its impact on the energy market
On Thursday 26th March, Energy Live News were meant to be holding a conference in the function rooms of the Etihad Stadium, Manchester which I was meant to attend along with 2,000 other delegates, and pick up my blues supporter father a Man City t-shirt to commemorate my visit. However, plans for everyone were scuppered […]
Mini Energy & Market Update – March
Since our last Market Knowhow Report, Gas and Electricity Wholesale prices have decreased further and are comparable to the lows we saw in 2016. Oil has fallen further to $27 a barrel whereas in January it was around $70. The coronavirus has reduced global demand. Russia did not agree with OPEC’s request to cut output, […]
Advice to customers about energy contracts during the COVID-19 outbreak
The coronavirus pandemic is currently affecting every part of UK PLC and the government has confirmed various financial lifelines to support businesses, including grants and loans. We strongly advise our customers to keep up to date with news from the Department for Business, Energy and Industrial Strategy, your local Chamber of Commerce or your industry […]
Energy & Market Update – March
Overview As of the 11th March, Gas and Electricity Year Ahead Wholesale costs show slight increases when compared to last month’s report, but are still very low. The coronavirus has spread further afield, reducing Oil demand forecasts. OPEC’s meeting in March agreed production cuts to stimulate the price, requiring Russia to do the same. However, […]
Become a “Net Zero” Hero
Net Zero seems to have replaced traditional Carbon Budgets as the trendy word to be dropped into ‘techy’ conversation and energy-related news articles. But is it good for business? Is it expensive? What does it even mean?! Net Zero, or Carbon Neutrality, refers to becoming so highly efficient that nothing is wasted, and any energy […]
Energy & Market Update – February
Overview As of the 12th February, Gas and Electricity Year Ahead Wholesale costs show decreases when compared to last month’s report. The coronavirus has had a big impact on the Oil price, falling from $59 to $55, due to a forecast reduction of Chinese imports. OPEC have tried to counter this fall by suggesting they […]