Warwick based business utility consultancy and Pentlands client Utility Stream are helping local business manage their utility needs.
We posed a few questions to their expert team to help everyone navigate the current market:
What’s happening to gas and electricity prices?
Over the last 12 months there’s been a 4 x increase in wholesale prices. This has been driven by many things but broadly it’s a function of supply and demand – impacted by considerable uncertainty. The Russian invasion of Ukraine is the main reason as gas supplies have been reduced into Europe; compounded by increasing global demand (Especially in Asia) post Pandemic.
Most analysts don’t expect to see prices return to pre-energy crisis level for several years. This is because it will take time for the UK to increase its own generation capacity and for the market to re-structure.
What can I do to protect myself?
We encourage businesses to start planning as soon as possible. It’s vital to avoid being ‘out of contract’ and whilst prices are high there’s little sign of them reducing which means business should protect themselves against potential further increases by agreeing contracts in advance.
Make sure you know exactly when your current contracts expire.
Even if your current contract doesn’t end until 2023 or beyond it’s essential to start budgeting for a significant price increase.
How can I reduce my utility spend?
Monitoring and targeting where you use gas or electricity is important. Depending upon the overall consumption, business should consider deploying energy monitoring software to target a reduction in consumption
In addition, most businesses aren’t aware that you can switch commercial water suppliers; this usually delivers contract savings of c. 20%.
How can Utility Stream help?
We can help in many ways. We work with most UK suppliers, including all of the ‘big 6’. This allows us to find a solution tailored for each business. This is really helpful during such a volatile market.
We’re also a full end to end multi utility meaning we can support each business with their gas, electricity and water needs.
Everything we do is backed up by our specialist Account Management service giving all clients dedicated access to the team based in Warwick.
Their web site showcases their full services, including how they can help businesses with their ‘net zero’ planning.
They would be delighted to help more local business so please get in touch Hello@utility-stream.com or call the office on 01926 935343.
