It seems that the government’s call for cheaper gas prices hasn’t fallen on deaf ears. British Gas has announced it will cut its domestic gas prices by up to 5%. This will come into force towards the end of August and should reduce consumers bills by an average of £35 a year. British Gas managing […]
Energy prices at lows not seen since 2010
The market price of UK gas has plummeted to costs seen back in 2010 as pressure is mounting to reduce energy bills. Wholesale gas averaged 47.1 pence per therm, the lowest quarterly average since Q1 2010. The falling oil price down to US fracking and reduced demand in Asia is seen to be a contributing […]
Gas cut in Ukraine goes mostly unnoticed
Gas supply talks between Russia and Ukraine failed after they were unable to agreed on a price at the end of their contract leading to a little known about supply cut in the latter. Ukraine failed to make an advance payment for July deliveries, and Gazprom “won’t deliver gas to Ukraine at any price without […]
CMA to deliver verdict on energy market investigation
The Competition and Markets Authority will announce the provisional findings of its energy market investigation today. The full and final report however is not expected until the end of the year. Initial findings show that despite popular opinion, the big 6 will not be dismantled. It was claimed that the larger firms were in collusion to […]
SSE signs five-year gas deal with Statoil of Norway
SSE has increased its Norwegian gas imports fivefold after agreeing to buy almost a third of its overall supply from Norwegian company Statoil. They’ve struck a five-year deal for the supply of 2.5 billion cubic metres of gas per year from Norway. They are just another of our energy giants leaning on Norwegian imports in […]
LNG imports push energy prices lower
More fun from the global complex that is energy this week as good news hit the UK energy market with energy prices falling thanks to stilted demand in Asia. The downturn in Asian gas requirements and plunging oil prices means that Liquefied Natural Gas (LNG) importers have had to find new buyers and the UK […]
Which? claims energy price falls too little
Another day, another round of energy attacks from our politicians. Thank the good lord we are not a high street chemist. The latest lambasting of the Big 6 energy suppliers came from price comparison website (or consumer champion depending on who you listen to) Which? Which? have done an Ofgem and collated their ‘own’ SMI. […]