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Effective ways to protect your business as energy prices soar

Wholesale natural gas prices have quadrupled in the past year, and look set to rise even further this year. Here are some effective ways to build resilience through energy efficiency.

Whether you are helping run a large business or an SME, or you are running your business from home, you will likely be looking to the next few months with trepidation at the rising cost of energy bills. 

You may be seeing instant and significant increases in your bills, and unlike homeowners, your business isn’t protected from increases in wholesale gas prices by the energy price cap.

Wholesale natural gas prices have quadrupled in the past year, and look set to rise even further this year due to several factors, including, but not exclusively, geopolitical tensions in Europe, and growing demand for gas from Asia.

Not to mention, we don’t have enough storage capacity to stockpile gas as a limited hedge against price fluctuations in the UK.

The rise in wholesale gas price has consequences on both gas and electricity prices, as a significant amount of electricity in the UK is produced by burning natural gas. However, as we move towards greener sources of power this dependency will likely soften.

There are no guarantees that gas markets will return to their status quo, so a sure way to protect yourself from energy price rises is simply by cutting down on the energy you use.


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