Mark Johnson, a director of Torse Ltd, is interviewed by Maria Loreto Urbina regarding the current energy market in the UK with regards to pricing fluctuation, long term contracts and advice for existing and new clients wishing to renew their energy contracts
Here is a brief summary of issues discussed
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With 2011 proving to be a particularly turbulent year for worldwide energy prices, heads are now turning to what to expect in 2012.
With civil unrest in the Middle East unlikely to ease, mixed with increased export capabilities, wholesale prices are expected to fluctuate heavily. European leaders look likely to impose an oil embargo on Iran, with Tehran warning of rising tensions and likely retaliation.
Npower’s continued inability to contribute to the coffers of parent RWE looks likely to move them up the cost saving and asset disposal list.
As RWE struggle to come to grips with the phase-out of nuclear energy in 2022, net debt of over £24 billion, a less than anticipated return on a recent share sale, loss-making long-term gas deals and its failure to setup a joint venture with Gazprom for the takeover of all European generation including the UK, it doesn’t bode well.
It has taken 25 years of de-regulation for realisation that the Energy Market is in a mess. Whilst some of us brokers and consultants have been a small but insistent voice over the years, trying to persuade Suppliers not to deal with unprofessional TPIs (Third Party Intermediaries), finally Ofgem could have power and legislation to make this happen by the accreditation of energy brokers and TPIs