Act now to seize lower energy prices

Businesses have a golden opportunity to take advantage of a sharp seasonal fall in gas and electricity prices by fixing contracts immediately advises Utility Auditing.

Businesses have a golden opportunity to take advantage of a sharp seasonal fall in gas and electricity prices by fixing contracts immediately advises Utility Auditing (UAL).

The opening of the new Norwegian gas pipeline and mild weather have resulted in a short-term surfeit of gas, which has sent prices for both gas and electricity plummeting.

Says Jeff Wealands, Technical Director for UAL: Businesses should act swiftly if they want to take advantage of these low prices.

Given the volatility of the market, which is dependent on so many global economic forces and weather conditions, prices are likely to go up again just as quickly".

By monitoring the markets UAL can minimise exposure to the risks of buying in a highly volatile commodity market - using its purchasing power to ensure customers buy energy at the most advantageous time and price.

It is estimated that businesses are wasting around one fifth of all their energy and, under the Carbon Trust programme, UAL can provide free on-site energy efficiency surveys for eligible companies, as well as helping them to implement recommendations.

Companies doing so are typically saving 10 to 20% on their energy bills, with minimal investment.

In addition, UAL offers a water supply evaluation service, which can help businesses identify possible reliefs and allowances and recover money if overcharging has occurred.

UAL, which is an ENER-G plc company, is recognised as market leader in utilities management - delivering a comprehensive range of specialist services, totally independent of the utility industry's suppliers.

The company manages more than £175 million worth of gas and electricity contracts and represents members of 60 UK Chambers of Commerce and trade associations.

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