GLEGOil is now trading close to $60 a barrel for the first time since January 2020. Oil prices collapsed in Q1 2020 when coronavirus swept through Europe and America. In April 2020 WTI (the benchmark for US oil) fell to minus $37/bbl as producers were paying buyers to take oil off them to avoid storage costs.
Britain produced more electricity from renewable generators than from fossil fuels for the first time in 2020.
Combined wind, solar, bioenergy and hydropower – all renewable energy sources – generated a record 42% of the UK’s electricity in 2020 compared to fossil fuels, which accounted for 41% of the UK generation mix.
UK business gas invoices are much simpler in terms of structure than your typical business electricity invoice. The chart below highlights the split of a typical business gas invoice. With the commodity making up such a large percentage of the invoice a pro-active gas purchasing strategy is essential to minimise gas charges.
2020 was a challenging year (to say the least) and 2021 has not started much better and the uncertainty in global commodity prices is expected to continue. With the hope that the vaccine roll-out should allow the UK to return to some sort of pre-covid normality in 2021, the below summarises what to look out for in the utilities industry, how utilities may affect your business and tips to reduce your utility spend through 2021.
What is DCP268?
Businesses with small non-half hourly electricity meters which require manual reads to ensure accurate billing may see a change in how these meters are invoiced from April 2021.
What is Net Zero and why is it so important?
Put simply, Net Zero refers to the balance between the amount of greenhouse gas produced and the amount of greenhouse gas removed from the atmosphere.
Over the weekend Joe Biden won the US election to become the 46th President of the United States. This blog summarises the potential impact of the Biden administration on global energy markets.
TRIAD’s are the three half-hour periods with the highest system demand between November and February.
The more electricity your business is consuming during these three Triad periods, the higher your business Transmission charges will be.
When discussing utility savings electricity and gas tend to naturally take priority for most businesses as these costs are significantly higher than water. However, with a very simple and time effective water management strategy businesses can realise very quick and tangible savings.
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