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Gas Prices 2010/2011

Continued volatility in the UK gas market

With declining North Sea gas production, the UK is now a net importer of gas, receiving supplies from an increasingly diverse set of countries. It is estimated that by 2016, 80% of gas consumed in the UK will have to be imported. The price of oil has proved extremely volatile in recent years and, with the price of gas in Europe still largely linked to oil, and the UK and European energy markets interacting more by the year, this has had a knock-on effect on the price of gas in the UK.

New import and storage capacity in the UK is not yet fully on-stream and has therefore not been able to offset declining North Sea production. As a result many business consumers will find that prices can vary hugely when it comes to renewing contracts.

Bluemark Consultants Gas Broker Team has a huge amount of experience in negotiating gas supply contracts. As well as getting your business the best deal we will keep you abreast of the factors that are driving the market and advise on future price trends.