LATEST MARKET UPDATE: UK gas and power markets have traded lower across the curve so far this week, with a bearish outlook as Norwegian outages come to an end next month and fears of a second wave of Coronavirus has pushed prices within the wider commodities lower. Oil prices in particular continue to be pressured by the threat of a reduced demand that a second wave of Coronavirus could bring, with prices trading below $40/bbl for the first time since mid-June.
March 23rd 2020 will live in all of our memories as the day the country went into lockdown. Whether that meant transitioning our workstations from the office to the ‘comfort’ of our own home, being placed on furlough pending reappointment when all this ends or even being made redundant. This has affected everyone in the UK and further afar.
We are all best placed not to get into a political debate on the handling of the situation or even consider the harrowing thought of thousands of deaths, families torn apart or the endless monotony of seeing the same four walls for weeks on end. It’s best to concentrate on how this is affecting our working lives and particularly those of ourselves, our staff, partners and clients.
To begin with we can thankfully say the world has not ground to a halt. Not every customer has downed tools and decided to furlough their whole workforce. Not every business has given in to this virus and it’s vast reach. We are seeing more and more businesses using this time for prosperous endeavours. Making use of the time available to them to organise, to plan a route to a successful future, assessing their downfalls and changing their mindset from that drummed into them by the media outlets.
We are seeing inbound leads more and more, clients understanding that they very rarely have the time to spread over the numerous projects and priorities that running a business takes, to make decisions on things like their utilities. Clients taking an interest in petrol and oil price-reducing exponentially over the last month. They know because they see the news, they see their garages dropping fuel prices daily, they get a chance to read emails sent by individuals within the energy industry being proactive. They are DOING something about it.
Connecting with currents or past customers we have had connections with before has shown a great opportunity for us to develop relationships. Where we have struggled is to introduce ourselves to a plethora of new clients due to aspects that businesses are now having to adapt to e.g. reduced hours.
As a team, we are still giving this 100% every day as we know we can help businesses. People have time to talk. It does help that when approaching businesses who have the time to spare, we are more often than not offering a fantastic opportunity to protect costs. The markets are at a five year low for gas pricing and a four year low in terms of electricity commodity pricing.
Utility Team has never seemed so close as we are today. We are regularly sharing best practice and even amusing anecdotes to keep each other motivated and pulling together to show our customers that even in adversity we can stand tall, together.
Yes, we are experiencing turbulent and concerning times however the way businesses are coming together gives hope for the future. We can all find a way to stay positive and we can all make the best of our situation if given the correct support.
So, if your business feels it has the time to speak about utilities, it wants to feel comfortable that even in one of the worst example of a crisis some of us will every see, you have a team that is there for you. You have heard about us and just want to know more, NOW is the time to ACT. Use this time to be proactive, let us help you plan or map out your sustainable future.
Trust in the partner you know you deserve.
Call 02476 997901 or email email@example.com and speak to our advisors.