At this time the ongoing conflict in the Middle East looks to be having a largely negative impact on electricity prices in particular, as there seems to be no sign of the situation settling any time soon.

According to an article published by Hannah Panzer, editor at energate, the sharper increases in the previous quarters can be attributed to 'concerns and major uncertainties' that the conflict is throwing up at this time.

“Prices are continuing to rise” a trader, and the key source, in the article explained to her. Should there be a further escalation in Israel, prices are likely to increase, and on the flip side, should the conflict begin to show signs of resolution or a calming of the situation, prices are likely to fall.

But is it just the Middle East conflict impacting things? The answer is no.

The change of Presidential Election Candidate for the Democratic Party in the US is also having an impact, with Kamala Harris now running for the presidency following President Joe Biden's withdrawal.

The same trader Hannah spoke to explained, "Kamala Harris has a different position as she is more critical and appeals to different groups of voters."

Source: You can read the full article online at energate.

The Honest Opinion

"As we have seen in previous years, geo-political conflicts can cause prices to change suddenly. This is why knowing when prices are at a low point, and securing at the right time, is so important for all businesses. Our clients are kept up to date with the effects that global events have on the market and are provided with the insights to make up their own minds about when to secure."

- Arran Quinn, Corporate Account Manager and Energy Consultant at Honest Utility Group

At Honest Utility Group our team will look help you secure the best available rates and terms on your energy contracts. You can reach our team by phone on 0191 7208 238 or by email at info@honestltd.co.uk