According to LCP Delta’s Power Insights analysis the UK could see energy bills rise later this year due to a potential rush for gas in the UK.

Sam Hollister who is Head of Economics, Policy and Investment at LCP Delta, said that although there has been a decline in global energy prices and UK inflation in recent times, there are signs, and expectation, that energy costs could increase again later in 2024.

The reduction of energy costs earlier in the year was due to high gas levels, but due to storage levels declining along with potential risks to supply due the ongoing conflict in Ukraine, this is creating uncertainty in the industry which is suggesting these rises later in the year.

Source: You can read the full article at Energy Live News.

The Honest Opinion

"Historically prices have increased in winter due to higher demand in the UK's inevitable cold weather. Coupling this demand with a loss in Liquefied Natural Gas imports could put tremendous pressure on the UK market. Our clients are kept up to date with global market fluctuations which allow them to take control and secure rates before increases happen."

Arran Quinn, Corporate Account Manager and Energy Consultant at Honest Utility Group

At Honest Utility Group our team will look help you secure the best available rates and terms on your energy contracts. You can reach our team by phone on 0191 7208 238 or by email at info@honestltd.co.uk