UK wholesale gas and electricity prices both dropped on both Tuesday and Wednesday of this week as a result of the changing geopolitical situation, with the US midterm results being announced and Israel looking to move away from Netanyahu.

As this becomes reflected in the Gulf region, we are hopeful that there is a light at the end of the tunnel of the Strait of Hormuz being reopened, which will release Qatari gas and therefore bring down our prices to the levels that we were seeing in February before the Iran war started.

Inevitably, these reductions will take a while to come through at retail, but they are welcome news after the marked increases, particularly in recent weeks.

#gas #electricity #businessutilities #businessgas #businesselectricity