Business Energy Pricing Report: July
As providers of competitive business energy rates, we know how important it is to understand the factors that impact gas and energy prices on a monthly basis, securing you the best rates for your business. Learn more in our summary of July’s energy market, detailing how prices were affected.
July saw a sharp increase in power and gas prices, with a number of consecutive days of pronounced price increases. There were also multi-month highs in rates for both gas and power, neither of which had been seen since April.
Business energy prices increased in July due to:
- A high demand coupled with a reduction in Norwegian supplies due to an outage
- A reduction in the amount of energy powered by wind
- A surge in the carbon and coal markets
- Production disruptions in the Gulf of Mexico and the Middle East tensions
- Interception of UK oil tanker by boats believe to belong to the Iranian Revolutionary Guard
- Tropical Storm Barry which shut off 70% of US Gulf of Mexico’s oil output
- Weak pound against the Euro and the dollar
After analysing July’s energy market, we recommend that businesses looking to enter an energy contract do so soon while prices are secure. With political factors such as Brexit, prices are likely to rise in the coming months.
How can we help?
At Network Telecom we help you to get the best deal on your business’ energy contracts.
By comparing 10,000s of tariffs from all our recommended suppliers, we can reduce your energy bills by up to 45% and fix your rates for longer. Regardless of political factors, rising oil prices or market fluctuations, our software constantly monitors the market and ensures you are getting the best deal.
The savings we generate from your energy bills can then either go directly back into your business or we can use them to fund a brand-new business phone system, further reducing any wasted spend and improving cost efficiencies.