Commercial energy and sustainability consultancy Advantage Utilities, has today released its Q3 2024 Energy Market Report and is urging businesses to take advantage of favourable market conditions by locking in lower commercial energy prices ahead of future price spikes.
Seven in ten companies expect to be less competitive over the next two years due to high energy costs, according to recent PwC research. Energy experts at Advantage Utilities are encouraging businesses to hedge future volume now, in order to mitigate the impact of any future price rises which could prevent economic stability.
Thankfully, the first half of 2024 has ushered more stability into energy markets in light of cheaper gas prices, healthy European storage levels expected throughout winter, and the expected landslide UK election result which had already been factored into the market.
However, underlying pressures remain, with geopolitical tensions across the world at risk of pushing up prices, with inflammatory actions committed by Russia in Ukraine and China’s against Taiwan continuing to loom large in global energy markets. This has made future energy trends uncertain and extreme temperatures in Asia have also driven up LNG demand from air conditioning and cooling systems, with imports reaching record highs and predictions of strong global oil demand growth this year has already pushed oil prices up further.
Advantage Utilities CEO Andrew Grover urged businesses to be cautiously optimistic about developments in commercial energy markets, stating: “Businesses have an important opportunity to secure cheaper energy into the medium-term through reassessing their energy procurement strategies to factor in lower energy prices at present. Any additional stability in markets should be welcomed, however businesses must also consider the impact of any international conflicts threatening commercial energy security which is why hedging future volume now is a crucial step for businesses to consider today.”
Further guidance on energy developments and solutions can be found within Advantage Utilities’ most recent report here.
For more information on Advantage Utilities, visit www.advantageutilities.com
ENDS
Press Enquiries: For further information, interviews or images please contact the Advantage Utilities Press Team on 01603 743 363 or email steve.pantelli@ambitionpr.co.uk
About Advantage Utilities
Advantage Utilities was founded by Andrew Grover following a career in the energy sector and sales management. Previously co-owner of Abbey Utilities, Andrew established award-winning energy and sustainability consultancy Advantage Utilities in 2001.
With over 20 years in the business, they are experts in their field; Advantage Utilities now has over 40 dedicated and highly skilled staff in energy trading, business energy sustainability, legislation, financing and technology. Leveraging strong industry partnerships, they negotiate the purchase of millions of pounds of energy every year.
For more information visit www.advantageutilities.com
.avif)
