Winter outlook
European gas storage has fallen to below 70%, while UK storage is below 50%.
Despite much colder weather prices have started to fall, in part due to the availability of LNG following an Asian sell-off due to weak demand.
A range of weather and geo-political forces continue to drive volatility.
Navigating the current market
| Commodity cost | Av unit rate | Av S/C | ||
|---|---|---|---|---|
| Electricity | 05/12/2024 | 8.8p | 24.6p | 70p |
| 19/12/2024 | 8p | 26.1p | £1.07 | |
| 09/01/2025 | 8.6p | 24.5p | £1.89 | |
| Gas | 05/12/2024 | 3.8p | 7p | 65p |
| 19/12/2024 | 3.4p | 6.5p | 69p | |
| 09/01/2025 | 3.5p | 6.8p | 66p |
Future energy cost movements are uncertain. Electricity non-commodity costs are projected to rise with gas costs more reliably reflecting commodity movements. The commodity cost trend has been upward since February 2024 and while likely to decline, volatility remains an issue.
Traditional beliefs that the summer is a better time to fix when rates are lower, are unreliable. Businesses approaching renewal should regularly monitor the market or seek assistance from a trusted consultant. Be wary of cold callers claiming that “today is the best day to fix” — they likely make the same claim every day, regardless of market conditions.
How Nationwide Energy can help
Making informed decisions in this volatile market requires comprehensive advice. Nationwide Energy’s field and office teams offer detailed consultations to help businesses-
- Understand the merits and risks of various supply options.
- Evaluate contract terms to avoid hidden costs.
- Access the latest market insights for informed decision-making.
Providing customers with the time and information they need to choose the best energy solutions for their business.
Contact Us Today
📞 Tel: 02476 328995
📧 Email: info@nationwide-energy.co.uk
🌐 Website: Nationwide Energy Free Guides
