Times are changing

You can’t always control what happens within the market, and like many sectors, the energy industry is transitioning, as is the role of a supplier. We took to Yorkshire Vision to discuss how, like many others, we’ve had to adapt our business in order to flourish.

With many households now having smart meters, we’re able to track how much each flick of the switch or turn of the thermostat costs, enabling consumers to monitor consumption and understand supply. Energy users are becoming savvier and quite rightly, want more from suppliers, including information about the industry, advice, education and support on a range of issues.

The nation’s attitudes are changing to be more environmentally focussed. The UK energy mix has seen a rise in renewables, with decarbonisation becoming a national priority. Energy users are becoming increasingly aware of greener energy options and are demanding them from suppliers.

At CNG, we’ve been developing our business in response to how the energy sector is moving; looking at building our own green offering to provide a product and service which appeals to these changing attitudes.

It’s been a turbulent year in the industry; with rising volatility, chaos caused by the ‘Beast from the East’, increasing costs and Ofgem imposing tighter rules on smaller businesses, there are now more challenges than ever for suppliers, particularly the smaller ones. In 2018, seven smaller suppliers ceased trading, and this year alone two have already gone out of business; taking all this into consideration, it’s no wonder so many suppliers are exiting the market.

The wholesale side of our business has made us more resilient, but many don’t have this stability. As a gas shipper championing choice and competition, we support smaller businesses entering the market and do everything we can to help them face these challenges.

The role of a supplier is changing, so it’s vital we observe where our sector is going and respond in the right way; providing the supply, tariffs and services that energy users want and therefore ensuring the longevity of our businesses.