Welcome to your Nationwide Energy September Newsletter.
Hi, as we move into Autumn, I wanted to give you an update on what the team at Nationwide Energy are working on and what the energy market looks like as we progress into the colder months.
Candidates for the Southwest field consultant vacancy get the red-carpet treatment
We have been busy recruiting new staff for both our office and field-based teams to provide even more support to our customers and expand our services. During a recent recruitment event we were fortunate enough to meet some great individuals at Ashton Gate Stadium, home of Bristol City. Not sure what the candidates thought about the red carpet on arrival!
Hall and Woodhouse Untangled Festival
Hall & Woodhouse invited their Business Partners to their ‘Untangled’ festival, to meet their valued suppliers, try new products, chat to other BPs, hear topical presentations, and enjoy live music.
The team were on hand to present an update on the energy market and offer energy advice to existing and new customers and talk them through our Self-Assessment Energy Guide that has helped other operators validate and check their existing energy controls, please see link to the guides below.
Energy Update | September
The mild downward trend in commodity costs continues, with electricity declining more quickly than gas. Europe has high levels of gas storage, and a combination of mild weather and good renewable generation isn’t stressing the system.
There have been some unplanned production losses including in the Norwegian gas fields, but the market remains more optimistic showing limited reaction to these events. Future price movements are hard to predict, whilst we continue to experience mild weather with good renewable generation and high levels of gas storage prices commodity costs should continue their slow decline.
However, the approach of many suppliers means it’s still a very challenging market for our hospitality customers. As we move further into winter the more quickly conditions can change and potentially costs start to rise. As always, suppliers will pass on cost increases more quickly than reductions.
Anyone with a contract due to renew through to March 2024 is advised to consider their options now, any future decline in contract rates over the winter is likely to be modest and if they wait until nearer their contract end, they may be faced with a rising market and higher costs. One or two-year contracts are recommended.
Nationwide Energy’s field consultants and renewals advisors can provide energy advice, a market review and updates on available prices.
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