Seven in ten companies expect to be less competitive over the next two years due to high energy costs, according to recent PwC research. Energy experts at Advantage Utilities are encouraging businesses to hedge future volume now, in order to mitigate the impact of any future price rises which could prevent economic stability.
This has made future energy trends uncertain and extreme temperatures in Asia have also driven up LNG demand from air conditioning and cooling systems, with imports reaching record highs and predictions of strong global oil demand growth this year has already pushed oil prices up further.
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