top of page
Keyboard and Mouse

March 2022 - Monthly Wholesale Market Update

Today, the Gas market has increased by 44.63% than this time last month with the electric market also up by 50.15%


As the battle continues, the energy industry is shaken by instability and unrest. As Monday's market absorbs the shockwaves caused over the weekend, some of Friday's losses are retraced, with NBP month ahead up 21.44p/th [9.5%] and the power equivalent up £12.55/MWh [6.1%]. On balance, since the conflict began, monthly gas costs have increased by 30% and power costs have increased by 22%. While some risk has faded further down the curve, gains have remained strong, with the annualised Apr-22 NBP up 23% in the last three sessions and power up 14%.


Following in the footsteps of BP and Equinor, Shell has stated that it is abandoning its relationship with Gazprom, including its 27.5 percent ownership in a major LNG facility and participation in the Nord Stream 2 pipeline, which it helped finance.


Yesterday's diplomatic talks appeared to be dead in the water, with bombardment continuing and a 40-mile Russian convoy allegedly forming outside of Kyiv. The market opens cautiously today, with S-22 NBP rising 2.76p/th [1.163 percent] but little else moving as traders examine their options. Prices may remain constant or gain small ground today if there is no further rise.


In other headlines, Germany intends to impose mandatory gas storage fill levels of up to 90% commencing in the winter of 2022/23, with storage to be at 80% by October 1st. Penalties may be imposed on retailers that fail to meet their duties. It would be interesting to observe how this affects pricing in the future; if there is a rush to fill contracts to meet the compliance deadline, this could push up October contracts, which could have ramifications beyond German markets. In the summer, we should expect to witness more vigorous filling.


Carbon is down nearly a euro [1.24%] in early trade, with significant trading volume maintaining the bearish trend, which has been down 7% for the entire month of February. Brent, on the other hand, has pierced the $100/bbl. ceiling and looks certain to close above this critical resistance level — up over $4/bbl. [4%] at the time of writing. As pressure increases for Europe to separate itself from Russian gas reliance, both LNG and European coal saw large gains in yesterday's session, with both commodities up over 20%.




How the market is averaging out


Date Electric (£/MWh) Gas (p/therm)

Last 7 days 213.00 234.84

Last Month 176.78 194.74

Last Year 146.11 140.70



The below shows how the market compares to the previous month and year.






When will you look at your next renewals? Get your free quote today.


Get in touch to see what is available for your next renewals. 0151 459 3388



18 views0 comments

Comments


Keep Up To Date With Market Updates

technological-devices-with-financial-reports.jpg

Securing your next energy contract at the optimum moment is essential for fully realising your savings opportunities. Provide your details below to gain access to weekly market updates, giving you the advantage to make informed purchasing decisions at the right time.

 

Bid farewell to aggressive sales approaches from other brokers and take charge with confidence!

You're Subscribed! Look out for your first report soon!

Have More Questions?

  • Is it possible to change multiple business utilities at the same time?
    Our switching service allows you to switch multiple utilities simultaneously. We have successfully assisted multiple businesses in the UK by helping them save on various services such as energy and water with savings within 2023 already over the £2 Million mark.
  • How much can I save on my business utility bills?
    The amount you can save on your business utility bills will depend on various factors such as your current usage, the rates offered by different providers, and the specific deals available in your location. However, our switching service is designed to help you find the best deals and save as much as possible. By comparing multiple suppliers and negotiating competitive rates, we aim to maximise your potential savings. Get in touch with us to discuss your specific needs and get personalised information on potential cost savings for your business utility bills.
  • How does switching business utilities work?
    Switching business utilities involves a straightforward process. Here's a general overview of how it works: Evaluation: Start by assessing your current utility bills and usage patterns. This will give you an idea of your current costs and help identify areas where savings can be made. Comparison: Use a switching service like ours to compare different utility providers in your area. We provide you with quotes from multiple suppliers, allowing you to compare prices, contract terms, and services offered. Selection: Based on the comparison results, choose the utility provider that best meets your needs and budget. Consider factors such as price, customer reviews, contract terms, and any additional services or benefits offered. Contract Negotiation: Once you've chosen a new provider, our team can help negotiate the contract terms and rates on your behalf. Switching Process: The switching service will coordinate the transition with your current supplier and the new provider. This may involve submitting termination notices, arranging meter readings, and scheduling the activation of new services. Enjoy the Savings: After the switch, you'll start receiving services from your new provider, typically at the agreed-upon rates. You will notice savings on your utility bills, providing you with cost advantages for your business. Remember, the exact process may vary depending on the type of utility you are switching, but our switching service aims to simplify the process and assist you at every step.
  • Who are the cheapest business utility providers?
    As market conditions and prices fluctuate regularly, it's challenging to provide an up-to-date and definitive list of the cheapest business utility providers. The prices we provide you are valid and available on the day of the quote and will provide most current and competitive deals available. Our switching service helps you compare prices and offers from multiple suppliers, ensuring you have the most accurate and relevant information to make an informed decision about your business utility provider.
  • What is energy procurement?
    Energy procurement is the process of sourcing, negotiating, and securing energy contracts to meet the specific needs of a business. It involves analysing energy consumption patterns, understanding market trends, and negotiating with suppliers to obtain the best possible rates and contract terms.
  • Why is energy procurement important for my business?
    Energy procurement ensures that your business secures energy contracts that are both cost-effective and aligned with your operational needs. Proper energy procurement can lead to significant cost savings, budget predictability, and reduced risks associated with volatile energy markets.
  • How does The Smart Energy Company help with energy procurement?
    We specialise in analysing your energy consumption, understanding your specific needs, and leveraging our relationships with over 20 suppliers to negotiate the best possible contracts on your behalf. Our team ensures you get optimal rates, flexible terms, and contracts that align with your business goals.
  • How do you ensure I get the best energy rates?
    Our team continuously monitors the energy market, staying updated with trends, price fluctuations, and supplier offerings. Coupled with our in-depth analysis of your energy needs and consumption patterns, we negotiate with suppliers to secure rates that are both competitive and suited to your business.
  • Are there any hidden fees associated with your energy procurement services?
    Transparency is a core value at The Smart Energy Company. We provide a clear breakdown of any commission we earn as a company when you come to agree any new energy contract. This is typically included as an uplift in your unit rate and paid to us by the supplier you chose to go to. Our primary goal is to secure the best energy deals for you, with no hidden costs.
Business Meeting

Unlock the Potential of
Your Business Energy

At The Smart Energy Company, we're committed to offering tailored solutions that fit your energy needs perfectly. By staying ahead of market trends, we ensure you're always equipped with the most efficient and sustainable energy options. We take pride in our client-driven approach, where your feedback shapes our continuous improvement.

 

Why not schedule a complimentary consultation with one of our energy experts today? Let's find the perfect energy solution tailored to your business.

See What Our Clients Say About Us

1828884.png
1828884.png
1828884.png
1828884.png
1828884.png
56937_edited.png

Very helpful, quick expert advice. We have been using Smart Energy for a while.

56937_edited_edited.png

Ian Hughes

Operation Manager

Group of Bars

bottom of page