In a year that began with falling energy prices, there were recurring catalysts that led to prices climbing steadily higher. Geopolitical uncertainty and the perennial threat of escalating conflicts meant fear would maintain a constant presence in the wholesale markets. We will look back at the key energy stories from 2024, and how the energy markets are likely to shape up in 2025. Quarter 1  The year began with cautious optimism as the UK’s gas reserve levels were healthy and prices for the Summer’24 season were in freefall. In February, prices pulled back to their lowest levels since 2021, and for the first time in a while, we identified that there was greater potential for upside risk than for further downward price movement: “ there now (exists) an asymmetrical element of risk should the market encounter a supply-side problem of significance. ” During February we had advised customers on flexible contracts that this was an ideal time for making purchases. March would see prices begin to ascend again as international conflict would create problems with LNG imports, and we would highlight the geopolitical risks as an area for concern moving forwards: “ fears remain and there are potential negative catalysts that could lead to prices rising further, with the main factors to watch out for being based on geopolitical unrest. “ For a business that purchases their energy in advance, this quarter was the optimal time for purchasing during 2024. In February, electricity prices for Winter’25 were down to 7.75p/Kwh, and as low as 6.05p/Kwh for Summer’25. Winter’25 ended the year with prices above 11.1p/Kwh, with Summer’25 prices exceeding 9p/Kwh. For a company that uses 500,000Kwh of electricity per month, the difference between buying at the February low point compared to today’s prices would represent a yearly saving of over £200,000.
Should I Use an Energy Broker/Partner? With energy markets becoming increasingly complex and volatile, many UK businesses are asking the same question: is it worth using an energy broker/ partner? While it’s possible to manage energy procurement and administration in-house, doing so effectively requires time, expertise, and constant market awareness. For many organisations, working with a specialist partner can unlock significant savings and remove a substantial administrative burden. Smarter Procurement and Market Timing One of the primary reasons businesses engage an energy broker is procurement . Securing a competitive contract is about far more than simply comparing prices at renewal. A competent energy broker will monitor wholesale markets daily, advise on the best time to contract, provide access to a wide range of suppliers and contract structures, and tailor strategies based on your budgetary needs. This dedicated market insight can help businesses avoid locking into contracts during market peaks and instead secure energy when conditions are more favourable. Invoice Validation: Are You Being Overcharged? Energy billing is notoriously complex, and errors are more common than many businesses realise. Without proper scrutiny, overcharges can go unnoticed for months or even years. A good energy partner will validate invoices against contract terms allowing them to identify incorrect charges or discrepancies. They will then contact your supplier to recover historical overpayments ensuring that you haven’t paid more than necessary and your team don’t have to use their time in dealing with suppliers. This ongoing oversight ensures you only ever pay what you should, not what you’re billed. Support with Suppliers, DNOs and Disputes Dealing with energy suppliers and network operators can be time-consuming and, at times, frustrating. Whether it’s billing disputes, contract queries, or technical issues, having expert support can make a significant difference. An experienced broker can act as a single point of contact for suppliers, liaise with Distribution Network Operators (DNOs) , and support escalations -- including cases taken to the Energy Ombudsman. This not only saves time, but by having a team familiar with supplier’s SLAs, it ensures that issues are handled efficiently and with the right level of expertise. Specialist Cost Reduction Knowledge Beyond procurement, there are a number of technical areas where businesses can reduce costs, many of which are often overlooked. These include: kVA capacity reviews to ensure you’re not overpaying for unused capacity TCR banding optimisation , which can significantly impact network charges Identifying opportunities to reduce consumption or shift usage patterns Without specialist knowledge, these areas are easy to miss, but -- with the right guidance -- they can deliver meaningful savings without any operational disruption. Is It the Right Choice for Your Business? For smaller businesses with limited time and resource, an energy broker can provide immediate value. For larger organisations with complex portfolios, the benefits are often even greater -- particularly when it comes to validation, optimisation, and strategic planning. By having experienced external support, a business can feel confident that their energy spend is being scrutinised and managed with the correct level of attention, without having to divert the focus of employees whose time could be better spent in other areas.  Take Control of Your Energy Strategy At SeeMore Energy, we work as a true partner to our clients. By combining market expertise, technical insight, and ongoing support, we help businesses reduce costs and stay in control of their energy strategy. From procurement and invoice validation to kVA reviews and dispute management, we ensure every aspect of your energy is working as efficiently as possible. If you’re unsure whether you’re getting the best deal -- or simply want peace of mind -- get in touch today. Our expert team will help you identify savings, reduce risk, and take control of your energy costs.
