In the United Kingdom, more and more businesses are seeking out methods to reduce their utility costs. Many are doing so out of a concern for the environment, as well as the potential for decreased expenses. As the economy fluctuates and unstable conditions generate worry among the populace, all possible solutions should be analysed. One of the companies well-known for offering quality assistance in this area is Utilitywise.
Businesses in the UK rely on Utilitywise to make a proper assessment of their current conditions and assist in reducing their carbon footprint as well as their utility costs. Each week, a market review is released. This document examines the state of the energy industry and any changes that were made during the previous week. Business owners use this market review to keep themselves and their employees educated and updated.
The March 24, 2014 article was released with the following information:
The overselling of the market created a tight situation for wholesale gas and power markets, which have reverted back to where they were before the rally held in early March. These markets had seen some gains, stemming from the Ukraine situation but it was not enough to overshadow the market oversell. The situation now begs the question: Will the prices fall even lower now that they are back where they started?
At the same time, a healthy supply system is an upside for gas and electricity markets. Output has been somewhat subdued because of planned and unplanned outages in nuclear capacity. Gas-fired generation is more costly, but fortunately firm winds have reduced the need for this method. Gas production is satisfactory despite several power issues in Norway which had an impact on the market during this week. Imports to the United Kingdom during this time were not seriously affected by the power issues coming out of Norway.
The week saw less need for both storage and LNG, with several good imports benefitting storage. In addition, LNG stocks are improving. The fourth cargo for the month of March will be delivered on time as promised at the end of the month.
Although there were some modifications in the mid-week UK budget that could have some effect on power prices, these changes were expected and had been prepared for earlier in the year.
Utilitywise is prepared to help any business looking to make a change to their existing contracts. There are methods both businesses and individuals can use to reduce their utility costs and their carbon footprint at the same time. New methods of energy reduction benefit the planet as well as the company books.