July 2021 Electricity and Gas market analysis
This small dip in both of these prices may be the only chance of you getting cheaper energy renewal prices before winter.
Carbon prices have remained volatile throughout the last couple of weeks, spiking in the same way as electricity contracts, which remain under heavy influence from the carbon price. Carbon has fallen in the recent days but is trading higher today and is likely to remain high with new legislation from EU government being released with regards to how countries are to reduce their emissions by 55% on 1990 levels by 2030.
Gas storage has improved from recent weeks but still remains in a weak position in comparison to the last couple of years. The anticipation of a slowdown in LNG (Liquefied natural gas) ensure that injections slow down which will entice strong buying pressure as the winter approaches with the risk of a lack of supply clearly growing more and more when the winter weather arrives.
Further volatility is expected to continue in the longer term, and we are expecting increases in pricing due to the gas storage situation along with the current supply issues. The best case scenario with this is that we reach around 66% fullness by the time winter comes, but this is with the expectation that we can continue to pump into gas storage sites without the disruption of cooler temperatures hitting the UK and Europe once again. This is now looking strongly unlikely.
This means that uncertainty remains and it is likely that we will observe strong increases in the upcoming future. Therefore, it would be sensible for a quick free quotation from our team here at Match Energy to secure the best and most cheapest energy contracts as soon as possible to eliminate any further risk through an increase in pricing, causing your contracts to be a lot higher than they could be.
Here at Match Energy we look after all types of energy contracts from domestic households all the way to large sporting grounds/leisure centres.
Contact our trustworthy customer service team via telephone or e-mail to see how much you can be saving on your energy renewal prices
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