Not such a Happy New Year, with electricity prices higher than this time last year.
A factor in this increase believe it or not, was the ‘Beast from the East’ at the end of last year.
With a mild November and December, demand for gas was lower than to be expected. However, this excess was able to support electricity generation, predominantly to replace the shortfall in wind generation.
The recent cold spell confirms that winter is upon us at last. Looking ahead, cold weather is predicted for the second half of January and into February. Brexit is drawing closer, and the uncertainty around this along with the week pound, could well affect prices.
Continued investment in renewable energy (through government taxies and levies) will continue to push prices upwards this year.
Perfect Clarity are independent energy brokers and consultants. Our buying power means lower prices from UK gas and electricity companies to save your business money.