Coronavirus, the energy industry and making informed decisions

The world has changed a great deal since the beginning of March 2020 – a global pandemic tends to have that effect. One thing is certain, no one envisaged in January that many of us would spend several months in lockdown with little to no physical contact with the outside world. 

Protecting and stabilising operations, people and supply chains has been the priority for many businesses but now organisations need to start thinking strategically about how they will adapt as the pandemic evolves. The phrase ‘new normal’ has been abundant throughout the coronavirus pandemic but there must become a point when we start accepting that the current situation is now just ‘normal’ and that we need to adapt to this way of working.

As we slowly creep out of lockdown and measures are eased slightly, there is no doubt that there will be continued restrictions in place for some time and the possibility of a second wave of infection outbreak is high. This means businesses need to build some level of flexibility and resilience into their short- and medium-term business planning. Organisations from all sectors will want to examine their approach to risk with a fresh set of eyes and consider what measures are needed to offer more security.

Forecasting your future energy costs can be tricky but is also one way of bringing some financial security to the current volatile situation. Getting to grips with your utility bills and energy usage can help to make sure your business is running as efficiently as possible and knowing when is best to renew your contracts forms a small part of that. As an energy consultant, Indigo Swan can help you to gain a better understanding of the current energy markets and guide you through the best time to renew your contracts based on actual market price movements. A vital part of operating a successful and profitable businesses is by keeping running costs as low as possible.

The impact of coronavirus on energy markets has resulted in wholesale prices falling to those historic low levels seen in 2016. At one point recently the US oil price even went negative, meaning people were paid to take barrels. The supply/ demand balance has never been more out of kilter.

Indigo Swan can forecast a ‘best time to renew’ by cross referencing an actual quote for your supply with real market knowhow. By using information that is relevant to you, combined with up-to-date market information, we can target our analysis, providing you with a report designed to assist you to make better decisions about your energy. There will always be unforeseen costs that arise. What you can do is have a good understanding and grasp of those expenses you do know about, which includes your utility bills.

It’s important that we plan for a new sense of vulnerability. Businesses should use their pandemic experience to inform reviews of their business continuity plans and crisis management strategies. As the focus shifts to stabilising our new environment and looking ahead, balancing budgets has never been so prevalent. Each decision we make effects how our future is shaping. We are here to help make some of those decisions easier and lighten the load.

If you would like any more information, please feel free to contact Indigo Swan.


Telephone: 01603 625522

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