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The Solution to Rocketing Energy Prices

The cost of wholesale gas has surged by 250% since the beginning of 2021, jumping 70% just since August, according to Oil & Gas UK.

Why are wholesale gas prices spiking?

A perfect storm of problems has meant that more gas has been needed to produce electricity.

• 23 million UK households (85%) still rely on gas heating, so colder temperatures mean more demand for gas.
• Lower gas supplies from Russia and global demand is higher than ever – especially in Asia.
• The pandemic delayed maintenance on gas platforms, and now several in the North Sea are closed at the same time.
• A fire damaged a power cable between Britain and France and is now due to be out of service for about six months.
• September has been an unusually still month, so UK wind farms have not produced as much power as usual.

Will my energy bills jump again this winter?

It depends. Many households are locked into 12-month fixed priced contracts. If your contract is due to end soon, you’ll probably have to change to a more expensive deal.

Will my bills increase again next year?

Probably. Experts have warned that prices could stay at “exceptionally high levels this winter” and throughout 2022. This will have a devastating effect on many households, plunging more families into fuel poverty.

How can I stop my energy bills from rising?

The only sure way to stop your bills from rising is to take control of your energy supply and install an independent clean energy system such as a heat pump or solar panels. That way, your power will always be free.

We can help

Would you like to see which renewable energy solution might be best for your home? Contact us here, and we can chat through your options and financial incentives.

Upvolt Energy

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