An energy review of '22
16th December 2022
…WHAT A YEAR IT HAS BEEN!!
At the start of 2022, I had no idea that the energy landscape was going to shock, change and challenge us all so much.
In January, as political tensions started to build near the Ukrainian boarder, we did not anticipate that one month later, energy markets around the world would rally in anticipation of the uncertainty ahead. Since then, as they say, the rest is history!!
Even with all this happening, the Brownlow team and I have remained dedicated to supporting businesses, both current and new, ensuring that their organisations can continue to run smoothly, competitively and efficiently, both now and in the near future.
LET’S REVIEW THE CHALLENGES…
Political, economic, social, environmental and technological factors have created much uncertainty in 2022, including a change of 3 Prime Ministers, 4 Chancellors and our Monarch after the sad passing of HM Queen Elizabeth II – something most of us has never witnessed before.
On an economic level, the volatile energy market, compounded by the more general cost of living crisis, has affected everyone. Energy uncertainty continued throughout the year, testing us all, with prices hitting all-time highs in September at 71.5 p/kWh & 26.6 p/kWh for power and gas respectively – seen in the graph attached. Sadly this price volatility has resulted in many businesses and suppliers going bust, whilst households have been faced with the ‘heat or eat’ dilemma.
A snapshot of the energy market
On top of global energy and food shortages and a cost-of-living crisis, COP27 Summit in November marked another year of record-breaking floods, deadly heatwaves and other extreme weather events. It is more important than ever for businesses to keep a focus on energy consumption, efficiency and emissions as we continue to meet our Net Zero obligations.
LET’S REMAIN POSITIVE AND PROUD!
We’re proud to have supported business through this difficult time, with the vast majority of our customers being protected by long term strategies.
We’ve also managed to support businesses entering at this historically high market; whether that be due to credit issues or, more commonly, if they’ve been abandoned by previous consultants.
We’re particularly proud to have offered a solution to those customers unable to afford renewal offers by creating flexible purchasing baskets. The result of which has seen energy rates 50% below the wholesale market Government Energy Bill Relief Scheme; not only keeping business afloat but also saving our Government paying out whilst helping to rebuild this market.
LET’S TACKLE 2023 TOGETHER!
The Brownlow Team and I would like to say ‘thank you’ to all our customers for their loyalty during these challenging times. We believe we have offered reassurance through our knowledge of the market and commercial experience.
We will remain focused on helping you, UK businesses, of all shapes and sizes, navigate through the energy and sustainability landscape in 2023.
On behalf of the Team and I, we wish you, your colleagues, and your families a relaxing festive period. We all look forward to working with you in 2023.