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28 Feb

Energy Prices in the UK: What’s the Deal?


You can’t have failed to notice that there is currently an energy crisis in the UK, with business electricity and business gas prices set to rocket. Here’s what you need to know.

The energy price cap has helped to keep domestic energy rates low for the past few months, but this doesn’t apply to business energy, unfortunately. This is why there have been some wild variations in the business gas and business electricity prices that suppliers have quoted over recent weeks.

The reason why there have been recent price hikes for both business electricity and gas is due to the fact that wholesale energy prices are currently at record high levels. This is not a new situation, energy market prices are always moving up and down, but the price we are currently seeing are really high and also quite volatile, making it difficult to predict what they will be from one day to the next, never mind in twelve months’ time.

Why are wholesale energy prices so high at the moment?

The rise in energy prices is a global issue and it has been caused by some unexpected, but far-reaching reasons, including:

  • A higher than usual demand for liquefied natural gas (LNG) from Asia has led to lower LNG availability for Europe
  • An increase in demand for energy in general as lockdown restrictions have eased across the globe
  • Delays and complications with the Nord Stream 2 pipelines, linking Russia to Europe and bypassing Ukraine
  • Gas shortages across Europe in general, thanks to the prolonged cold winter of 2020/2021 which put a drain of gas supplies


What is affecting the UK in particular?

These reasons have put us in a global energy crisis, but on top of this the UK itself is also suffering from:

  • A fire at a National Grid site in Kent knocked out a power cable used to import electricity from France to the UK, which is not expected to be back up and running until 2023
  • Low winds mean less renewable energy generation
  • Outages at some Nuclear Power stations mean a higher percentage of gas being used for electricity production than normal
  • The fact that UK has some of the lowest gas reserves in the whole of Europe, so we have almost no way of stockpiling gas until we need it


With all of this in mind, what is the best way to make sure you are paying a fair price for your business energy?

Well, the best way to find the best business energy deals is to contact the expert team at D-ENERGi. We just need a couple of details from you and then we can trawl the business electricity and business gas suppliers UK to find the best tariff for your business in minutes.

Require Assistance?

We take pride in our commitment to providing the most competitive rates for business electricity and gas. If you are seeking guidance on how to effectively reduce your business electricity and gas costs, or require assistance with a business energy switch, please call our dedicated Customer Services team at 0800 781 7626. We assure you that calls will be answered promptly within five rings or less!

Or you can enter your queries by clicking the button located at the lower right corner during business hours.

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