Tuesday 10 October 2023

Businesses urged to stay vigilant amid unstable energy market

Businesses have been urged to remain watchful and explore greener technologies as the energy market continues to experience turbulence.

That's according to commercial energy and sustainability consultancy Advantage Utilities which attributes this volatility to unforeseen outages and ongoing summer maintenance.

According to the consultancy's latest quarterly analysis from commercial energy and sustainability consultancy Advantage Utilities, volatility has become the new norm in the energy sector.

While much of 2023 has seen a gradual easing of energy prices, the market has exhibited a saw-tooth pattern since early June.

Negative news has driven market prices sharply upwards despite bearish fundamentals, according to the report.

Commenting on the latest report, Advantage Utilities Chief Executive Officer, Andrew Grover, said: “Businesses must stay on top of the current energy market which remains extremely precarious.

"We’ve already witnessed volatile energy price changes in response to ongoing disruptions and that’s in spite of healthy gas storage levels. We also believe that energy prices will remain at current levels for a few years to come.”