Tuesday, May 13, 2008
How to cope with energy highs
Energy markets are again in turmoil with record highs being posted on gas and electricity base load prices. Wholesale Gas prices have risen by approximately 110% since February 2007 and electricity prices have risen by around 135% over this time.
“The markets are being driven by high coal and oil prices along with the economic growth experienced in China and India who are purchasing as much base fuel as possible,” explained Jeff Wealands, Technical Director for Utility Auditing, which supplies the Chamber Utilities™ service.
He added: “Reduced gas flows into the UK along with ‘outages’ at power plants over the winter have exacerbated matters - driving prices ever upwards. Where will it end? Markets are also affected by global political and natural events. One thing is for sure – price stability in wholesale energy markets is a thing of the past and locking into long term fixed contracts is looking increasingly attractive.”
As well as negotiating the best price on gas and electricity, with impending legislation to reduce carbon and consumption, it is more essential than ever before for organisations to improve their efficiency. Most organisations can cut consumption by up to 20%, which can help mitigate rising costs.
For help and advice on cutting costs and improving energy efficiency contact Chamber Utilities™. Get in touch today to see how you can profit both your business and the environment.
Contact Chamber Utilities™ 0845 120 2423, www.chamberutilities.co.ukM
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