Is the UK facing a perfect storm of high energy prices this winter? At the moment it looks that way. Not only is the wind not blowing and the sun not shining – at least not enough anyway – but there aren’t enough batteries, there are outages of nuclear, a reluctant return to a little coal and gas prices are soaring due to all sorts of issues not least of which is the price of LNG and now, an inter connector from France has gone down as well. Retailers are going bust, consumers may well be facing massively higher bills this winter with less choice of supplier and with mandates on gas boilers, EV’s and much more, it can and will only get worse. It isn’t just the UK either. In Germany, coal is now back to a full 25% of generation and everywhere as the energy transition continues, prices rise. I hate to say it but….. who is surprised? Certainly not I. I fully expect all kinds of interesting issues around commodities developing particularly in energy, battery metals and food. For many of us in this industry, it is perversely probably going to be a bit of a boom… continue reading
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