Business energy bills to rise due to higher gas prices.

Business energy prices as well as household energy prices are set to rise as a consequence of a 32% increase in wholesale gas prices over the past 7 months.  The forecast comes from Nera an economic consulting firm.  The company has been monitoring the UK´s wholesale gas market since January and reveals that the 32% increase in wholesale prices, will translate into higher energy bills for businesses and households across the land.

The surge is being attributed to a combination of lower Qatari liquefied natural gas imports and the fragile pipeline supply from the Norwegian North Sea.

“In the long run, it’s true, gas prices do feed into retail prices. That’s been observed over a long period. What happens is the pressure builds up and there’s a mismatch between wholesale and retail prices, then one of the companies move and the others follow.”  Explains Nera director Graham Shuttleworth.

This is despite the decline in energy prices in March, when watchdog Ofgem published a report suggesting Britain’s ‘big six’ suppliers should pass wholesale price cuts on to consumers.  Economists and energy brokers alike are now concluding that the reductions weren’t as good as they thought it would be.

Such market variations only stress even further the need for businesses to have a reliable and competent energy consultancy firm.  One that understands with perfection how the complex UK energy market works and is able to find the right business gas contracts based on the clients requirements.

Hiring an energy consultancy company simply provides an independent and fresh approaches that help businesses achieve tangible results and save money on gas and electricity bills.

To learn more about how and independent energy consultancy service can save your business thousands of pounds each year on energy bills contact Catalyst or give us a call at 0870 710 7560 and speak with a friendly UK based energy broker.

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4. commercial energy bills set to rise again…

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5. It looks likes gas prices are going to increase for this coming winter. Even British gas didn’t rule out a price increase this week, despite there bad news.

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