Since our last Energy Report, Gas and Electricity Wholesale prices are lower.
Yearly Wholesale prices starting in 2023 and 2024 remain high when compared to 2021, but there has been a significant reduction in the last month. Prices for 2025 are showing better value. The government has announced that the Energy Bills Discount Scheme will replace the current, Energy Bill Relief Scheme, from 1st April 2023. At present, a generous discount is applied to contracts and deemed rates, whereas the new scheme will provide a modest discount when Wholesale prices pass a threshold. This will last for 12 months. Please see our Blog for more details.
Despite the recent cold spell and increased demand for Gas and Electricity, the trend for Wholesale prices continues to be downward. Wind has contributed a very high 40% of supplies so far in January, although it has fallen in recent days. With Gas providing just 19% of Electricity generation, compared to 37% in December, this has helped offset the increase from heating demand. Gas Storage levels in the UK remain high as do those in the EU, which are currently 81% full, far healthier than had been feared. Large numbers of LNG shipments continue to be delivered, with more due when the US Freeport LNG terminal comes back online, possibly by the end of the month.
The National Grid has measures in place to react to any Electricity supply shortages, and with a much more positive outlook for French Nuclear generation, this is allowing us to import via the interconnectors.
Although prices are lower, there continues to be some volatility, which may be exaggerated should there be another significant global event. For this reason, we would advise looking at your options for contracts ending in 2023 and having conversations with Indigo Swan about your specific requirements.
If you enjoyed reading this blog, why not try on of our others:
|TawkConnectionTime||session||Tawk.to, a live chat functionality, sets this cookie. For improved service, this cookie helps remember users so that previous chats can be linked together.|
|SRM_B||1 year 24 days||Used by Microsoft Advertising as a unique ID for visitors.|
|CONSENT||2 years||YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.|
|MR||7 days||This cookie, set by Bing, is used to collect user information for analytics purposes.|
|_ga||2 years||The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.|
|_gat_gtag_UA_12371872_1||1 minute||Set by Google to distinguish users.|
|_ga_*||1 year 1 month 4 days||Google Analytics sets this cookie to store and count page views.|
|_gcl_au||3 months||Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services.|
|_gid||1 day||Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.|
|ANONCHK||10 minutes||The ANONCHK cookie, set by Bing, is used to store a user's session ID and also verify the clicks from ads on the Bing search engine. The cookie helps in reporting and personalization as well.|
|MUID||1 year 24 days||Bing sets this cookie to recognize unique web browsers visiting Microsoft sites. This cookie is used for advertising, site analytics, and other operations.|
|test_cookie||15 minutes||The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.|
|VISITOR_INFO1_LIVE||5 months 27 days||A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.|
|YSC||session||YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.|
|yt-remote-connected-devices||never||YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.|
|yt-remote-device-id||never||YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.|
|yt.innertube::nextId||never||This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.|
|yt.innertube::requests||never||This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.|
|CLID||1 year||No description|
|SM||session||No description available.|
|_clck||1 year||No description|
|_clsk||1 day||No description|