The report entitled ‘The energy marketplace: A review of 2012 and predictions for 2013’ predicts that wholesale prices will rise in the spring, following a fall in quarter two, but that such cost increases will be exacerbated by other inflationary drivers, such as higher network charges and renewable incentives.
These charges could, reportedly, add 5 per cent to business electricity bills and 2 per cent to gas bills.
The energy market report, published by energy purchasing consultancy ENER-G Procurement, has provided a commentary on the main political events, regulatory changes and energy market movements in 2012.
ENER-G Procurement general manager Mark Alston said: “2012 was an eventful year in the energy industry and 2013 is set to be no different. In contrast to previous years when the volatile wholesale energy market forced spiraling bills, it was developments at home - particularly in policy and regulation - that drove up costs. In 2013, wholesale prices look set to be more bullish, particularly towards the back end of the year - but it will be the third party costs that are the real stinger.”