11 Sep World events and geopolitical dynamics are hugely impactful factors to take into account when making a global energy assessment. As a business owner in the UK, it’s important to understand how these factors influence your energy costs. Fluctuations in prices from business energy suppliers are often driven by tensions and natural events all over the world.
This blog highlights key world events impacting world energy consumption and explains why they change your monthly energy bills. Understanding these dynamics is vital for informed decision-making.
How the Russia-Ukraine War impacts global energy
The Russia-Ukraine War tops the list of world events altering energy premiums in the UK. Europe and beyond. This is because Russia was previously a major supplier of natural gas to Europe and has drastically cut these supplies since the war began back in 2022. Their invasion and subsequent cut of supplies was the inciting incident that led to the energy crisis we’re still living through.
Increased competition in energy markets
Natural gas prices have gone through the roof, meaning the UK and other European nations have had to compete for liquefied natural gas (LNG) from markets like the United States and Qatar. The response to the increased demand has, of course, increased prices overall, affecting your business energy bills.
The shift towards renewable energy
In the wake of the war and the energy complications it’s brought with it, international governments and organisations like the World Energy Council have pushed for wider adoption of greener energy sources. Renewables like domestic wind power can aid in the fight against reliance on imported fossil fuels.
OPEC+ production decisions
The OPEC organisation (Organization of the Petroleum Exporting Countries) is an important body to stay aware of. OPEC+ (including allies) have a massive impact on the oil market, with recent decisions including massive cuts to oil production that have kept prices high. It’s also worth noting the members of OPEC:
Iran
Iraq
Equatorial Guinea
Gabon
Kuwait
Saudi Arabia
United Arab Emirates
Algeria
Congo
Venezuela
Libya
Nigeria
While the countries do work together in the organisation, world events impact each of them differently, with internal variation in geopolitical alignment impacting market-affecting decisions and prices.
Red Sea shipping attacks & disruptions
The world energy outlook is also being significantly affected by Houthi attacks on Red Sea trading routes. While these attacks have disrupted various supply chains, the impact on oil and gas tankers has arguably been the most significant. Companies are essentially shipping goods and energy supply on longer routes around Africa, vastly increasing shipping costs and delivery times. These costs are then offset with the increased price of oil and LNG, with the “risk premium” on investors also being passed onto the consumer.
Staying informed about world events
If you’re serious about managing your business and your energy supply, it’s important to be aware of what’s happening in the world. Our blog provides practical insights and advice on navigating the complexities of business energy management. Visit our website today for more valuable content or get in touch for expert guidance on optimising your energy strategy.
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4 Sep If you’re seeking a business electricity quote or are ready to start looking for a new energy supplier, you should keep a few things in mind. Understanding unit prices, standing charges and contract length are very important, but there’s one thing people often forget to consider properly – the quality of customer service.
Now, ideally, you won’t need to contact customer service with your chosen provider that often, but when you do, you want the interactions to be smooth, friendly and productive. This blog will highlight the key qualities and essentials of excellent energy customer services, helping you identify what to look for when selecting a business energy supplier.
Why exceptional customer service matters
Customer service isn’t just about inspiring loyalty—it also plays a significant part in protecting energy customers. Smaller businesses or microbusinesses can be financially vulnerable, which is why their energy supplier needs to be genuinely supportive and helpful.
Financial assistance & protection
The most common disputes between customers and business energy suppliers are related to billing. Improper calculations and confusing bills can cause significant financial distress and put vulnerable businesses into disarray. A positive energy customer service interaction will be guided to a solution quickly and accurately, protecting customer financials and bypassing unnecessary stress.
This is about much more than simply keeping consumers happy – it’s about giving them the best ability to look after themselves. Energy customers lose millions to bad customer service every year, so make sure to work with an energy supplier with a reliable approach to interactions. Suppliers should also be able to offer guidance for those with debts or requiring tailored pricing plans.
What should good customer service provide to energy customers?
In general, good customer service should offer answers to any questions and concerns customers have, such as those surrounding:
Terms & conditions
Billing issues & information
Half-hourly data
Energy tariffs
Meter readings
Meter upgrades
Capacity increases
Smart meter rollout
Gas/electrical emergencies
Fair treatment policies
Complaints handling
Privacy policies/how information is used
Climate Change Levy (CCL) rates and issues
Other FAQs or common queries
These are just some of the things that a good customer service representative will be able to offer guidance on, which is why it’s important to suss out how comprehensive a supplier’s approach is. There are plenty of companies that will try to guide you through miles of red tape and bureaucracy to avoid giving you the help you really need. Don’t settle for this.
Indications of Quality Customer Service
Signs of a good customer service platform include:
A high Trustpilot rating
Strong reviews and testimonials
Multiple channels for communication (email, telephone, etc.)
Microbusiness guides
Energy saving tips, blogs & other resources
Consider D-Energi for exceptional customer service
If you’re looking to get a business energy quote or exploring new business energy contract options, consider D-ENERGi. We offer exceptional customer service to all of our customers, covering everything described in this blog, along with a variety of flexible energy options for businesses of all sizes.
For more information, get in touch with us today!
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