"In recent weeks, the wholesale market has decreased to levels we would expect if the crisis had not occurred. Suppliers are gradually lowering their retail prices to align with these rates", the team with energy specialists at UK consultancy company NFU Energy shares.
"There are expected increases in third-party costs, especially on standing charges, but overall, we are witnessing the market settling into its usual rhythm."
One unpredictable factor is political events. "Any changes in this area could lead to further increases. As we approach spring and the demand for high gas storage becomes less crucial, we anticipate a general easing of rates, although significant drops are not expected", the team continues.
"The national news is reporting a reduction in energy rates, but please note that this is directed at domestic usage only. Business prices have been decreasing since the beginning of the year and have yet to align with domestic rates."
Last year, NFU Energy launched an energy price comparison website. This tool aims to empower businesses across all sectors by enabling them to easily compare energy prices and switch to suppliers offering more favorable deals tailored to their needs.
For more information:
NFU Energy
www.nfuenergy.co.uk