There are a number of contributing factors to the energy increases we are seeing on today’s market including:
• Gas storage across Europe and Asia were heavily depleted after a long winter and still remain below average as imports into Europe from Norway, Russia and The Middle East have slowed.
• The rise in gas prices has also led to record electricity market prices because the UK relies on gas fired power plants to generate almost half its electricity.
• Low wind speeds have reduced the UK’s renewable energy generation and a string of outages at UK power plants and a major cable connecting the UK to France have forced up market prices.
With the above in mind, it is imperative that you choose both a supplier and tariff type that suits your needs and appetite for risk. Rest assured Utility Aid constantly assess supplier credit risk so they can navigate you through this turbulent time with a supplier you can feel confident in.
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