Did you know from April 2021 your energy bills are changing?
The big change is the way customers are charged for TNUoS and DUoS costs, also known as the transmission and distribution charges. The current Triad system is to be replaced with a fixed charge. Businesses with larger energy consumption are likely to result in increased costs. On the other hand, the wholesale market volatility has been increasing with pricing going negative 80 times last year and prices surging over £120 per MWh a similar number of times, predicted to occur 900 times every year by 2034 (Cornwall Insights).
As businesses make their transition to Net Zero with electric heating and electric vehicles the overall electricity demand will increase. Hence, businesses should look at ways to be more energy-efficient whilst maintaining their operational performance. Businesses also need to think about enabling demand flexibility and how to automatically respond to market pricing signals. Our event will discuss why electricity prices are frequently surging, and how we can best adapt our energy usage to avoid such costs as we move towards a Decentralised Energy System.
We will cover the following topics: Recent Volatility trends Impact of COVD-19 on energy prices Where energy trends are heading in the future (negative pricing forecasts) The impacts and opportunities for various market players New energy service models Smart trading and its benefits