Pink Connect Blog

Posts Tagged ‘business electricity’

On 11th of May 2011, the governor of the Bank of England, warned:  “Gas prices may rise by 15% and electricity prices by 10% by winter 2011″

That’s on top of the 15% increases we have already seen this year.

In line with this, Scottish Power have just announced domestic price rises of 19% for gas and 10% for electricity effective from the 1st August.

This will result in a average increase of £170 for a household, pushing a bill from £1,150 to £1,320.

Wholesale Energy prices are around 25% higher than this time last year.  Pink Connect predicted these increases and we have helped lots of customers to make substantial long term savings.

Renewals

If you have received your Renewal Letter from your existing supplier you need to act now as increases in price can now happen on a daily basis. Contact us with the details from your last electricity or gas bill. We will advise you of the best deal for your business and how you can make long term savings.

Even if your contract is not due for renewal, if you provide us with your renewal date we will also insure you do not get “Rolled Over” at uncompetitive prices.

Business Energy

We can provide you with independent advice to assist you in making substantial savings on your gas and electricity costs, as well as protect your business from the forecast long term price increases.

Provide prices that are often considerably lower than those offered by your existing supplier for the renewal of your supply contract. We help thousands of businesses cut their utility costs every year!

The other big suppliers are likely to follow suit, with widely reported comments by British Gas and SSE that current consumer prices do reflect market conditions and will need to rise ‘later this year’.

Insure that your business never “Rolls Over” into a new contract at expensive rates without having a choice.  Interested? Please get in touch click here, or give us a call.

We are here to help…

power costs keep going up. This no idle threat. Here are some real and up-to-the-moment examples of huge increases

Businesses are tied into contracts for Electricity and Gas supply for up to three years. At the end of your contract your supplier has the right to “roll you over” into another two year contract at price of their choosing! Do nothing and your bills will soar.

Unfortunately, we have some customers who have been caught out this way:

• a hospitality customer has just been rolled over to more than double the best rates we quoted
• we saw an electricity bill from a customer who had been rolled.  It was obvious what had happened when we saw the bill.  April 10p per unit, May 10p per unit, June 15p per unit.
• just last week, 7 days elapsed between an orginal quote and agreeing the contract and in that week the 3 year pricing went up by 10% – about £1100pa for this customer. Happily we were able to find them a better contract which will start February 2011.

It seems that about 700,000 businesses are rolled over every year. Don’t let it happen to you.  Let us know if you require help

Pink Connect has bolstered its power offering with a range of technologies which report, manage and minimise resource consumption.

Now, as well as searching out the best value utility supplier for your business, we can also retrofit technologies which result in combined savings of around 25% to 30% of the energy consumed annually!*

Here are a few examples of what can be achieved:

*Based on annual energy spend £15k or more

Market Overview

There was no clear direction in the market yesterday with high LNG imports largely being balanced out by gas pipe maintenance. The curve did creep up during the day only to give back all of those gains at the end of the day and close slightly lower on the day. A strong day for carbon lent some support to power, causing the spark spreads to widen slightly.

Oil $78.82 per barrel  1 year ahead forecast $93         

Indicative market prices are as follows:

Within-day prices unchanged @ 44.75p/th

Day Ahead prices up 0.30p/th @ 43.25p/th

Sep-10 prices up 0.25p/th @ 41.25p/th

Oct-10 prices unchanged @ 43.90p/th

Winter 10 prices up 0.20p/th @ 50.00p/th

Summer 11 prices up 0.20p/th @ 47.05p/th

Indicative market prices are as follows:

Within-day prices up 0.05p/th @ 43.55p/th

Day Ahead prices up 1.03p/th @ 43.50p/th

Sep-10 prices up 0.35p/th @ 40.15p/th

Oct-10 prices down 0.40p/th @ 42.90p/th

Winter 10 prices up 0.40p/th @ 49.75p/th

Summer 11 prices up 0.50p/th @ 47.00p/th

Oil  $80.68 per barrel  1 year ahead forecast $93

Market Overview

Prices fell in early trading yesterday, indicating that the gas surge of Monday had been overdone and needed correcting. After the early morning sell off prices stabilised for much of the day with both the gas and power systems looking comfortable. Coal gave some support to the power,  giving spark spreads a bit of a lift after the crash seen on Monday evening.

Oil  $81.79 per barrel 1 year ahead forecast $94

Indicative market prices are as follows:                               

Within-day prices up 0.65p/th @ 44.25p/th

Day Ahead prices down 0.20p/th @ 43.85p/th

Sep-10 prices up 0.25p/th @ 42.00p/th

Oct-10 prices up 0.20p/th @ 45.50p/th

Winter 10 prices up 0.25p/th @ 51.65p/th

Summer 11 prices down 0.15p/th @ 48.05p/th

Indicative market prices are as follows:

Within-day prices up 0.10p/th @ 43.10p/th                                   

Day Ahead prices down 0.88p/th @ 43.10p/th

Sep-10 prices down 1.20p/th @ 41.85p/th

Oct-10 prices down 1.09p/th @ 45.36p/th

Winter 10 prices down 0.95p/th @ 51.55p/th

Summer 11 prices down 1.20p/th @ 48.00p/th

Oil    $80.78  per barrel  1 year ahead forecast $94

Market Overview

It was a mixed end to the week last week with Thursday’s market reacting to bullish gas. This helped the power close over £1/MWh up across much of the curve. Coming into Friday this trend was reversed as the gas softened and power came down with it. However, this was not enough to reverse all of the gains from Thursday.

Oil   $79.23 per barrel  1 year ahead forecast $92

Indicative market prices are as follows:

Within-day prices up 0.35p/th @ 42.60p/th

Day Ahead prices down 0.23p/th @ 43.00p/th

Sep-10 prices down 0.20p/th @ 41.00p/th

Oct-10 prices up 0.05p/th @ 44.00p/th

Winter 10 prices up 0.15p/th @ 50.00p/th

Summer 11 prices down 0.42p/th @ 46.08p/th

Market Overview

Early trading on Monday suggested that the rally late last week would continue but as the day went on bearish sentiment took hold again and the curve fell. Following the trend of last week it was the gas that led the losses with heavy sell offs due to reduced demand figures and increased supply from LNG. Coal and carbon were also weaker yesterday so did not lend any support to the power, however spark spreads still widened slightly due to the power to gas lag.

Indicative market prices are as follows:

Within-day prices down 2.55p/th @ 40.85p/th

Day Ahead prices down 0.27p/th @ 42.00p/th

Aug-10 prices down 0.55p/th @ 39.65p/th

Sep-10 prices down 0.20p/th @ 38.75p/th

Winter 10 prices down 0.65p/th @ 47.35p/th

Summer 11 prices up 1.85p/th @ 46.60p/th

Market Overview

Yesterday was once again characterised by losses in both the gas and the power markets. Gas slipped throughout the day as increased LNG and lower demand weighed on prices. The greatest losses in power were seen in the front month with August trading £0.90/MWh lower on the day. Further out there was a slight recovery at the close with the curve closing £0.35/MWh down. Coal and carbon were both well down on the day which may have accelerated power losses and led to narrower spark spreads.

Oil   $75.42 per barrel  1year ahead forecast $88

Indicative market prices are as follows:

Within-day prices up 0.75p/th @ 41.75p/th

Day Ahead prices up 0.67p/th @ 41.75p/th

Aug-10 prices up 0.10p/th @ 40.00p/th

Sep-10 prices unchanged @ 39.25p/th

Winter 10 prices down 0.18p/th @ 47.80p/th

Summer 11 prices unchanged @ 45.25p/th

supplied by senior energy broker to Pink business electricity