Escalating energy prices
The UK care industry has warned that it may be forced to close thousands of care homes due to crippling increases in energy prices.
Care operators facing 100% increases in their energy bills have called for urgent government intervention to avoid closures.
On average, a care home with 50 residents spends about £50,000 annually on gas and electricity. The recent escalation in energy prices, driven by a trebling of wholesale 12-month gas contracts over the last five months could see some operators paying double that amount.
Energy Market Trends: November 2023
Our Risk Manager, Alex Mottershead breaks down the market factors that have influenced gas and electricity prices across November, crucial reading for any business exploring energy procurement.
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