Energy Market Update

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We have seen Electric prices over the last 18 months touch almost 100p per kwh and Gas prices touch 24p per kwh. This was due to the Russia and Ukraine war continuing longer than anticipated.

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Whilst the war continues, most other countries have been sourcing different partners for Gas and Electric supplies. This, together with weakening economies, has led to a sharp fall in prices, stabilising at around 30p and 9p.  This is still higher than before the war started. 

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Oil prices are continuing to rise slowly again -as can be seen by the current petrol prices - over 150p per litre again! Gas prices are still volatile and remain a concern. 

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Whilst the outlook is still unsure the market is predicting prices to remain around current levels for at least the next 12 months.

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