What’s behind the current energy price rises?
If buying business energy is one of your responsibilities, you probably feel like the last 18 months have been something of a rollercoaster. After the record pandemic-induced price falls of 2020, we saw a continent-wide surplus of gas in 2021 - so much so that Russia turning down its supply in the summer hardly affected the price at all.
Indeed, many industry commentators last year expected prices to fall further due to a combination of poor demand and oversupply. But as we all know, wholesale energy prices rocketed to a record high by spring 2022.
So what’s going on?
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