S03E11 | The 2024 Energy Market with Liam Conway

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The Metal Guys Talk Business

Comton Group

40 episodes

1 month ago

Peter Comerford and Mike Bolton are The Metal Guys! They have worked in the metal sector for over 10 years, a huge global industry that produces more than a billion tonnes of material annually and affects all other industries and walks of life. They now run a successful recruitment and marketing company servicing the metal and engineering sectors, making them ideally placed to provide impartial, independent insight into the industry, sitting outside the hierarchy of the various stages of the industry from raw material to finished product. Under the moniker of The Metal Guys, the pair continue to gain insights from - and ask the difficult questions to - the decision makers and technical experts that you won't hear on any other podcast. If you produce, work with or supply metal, then tune in and join the conversation.

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S03E11 | The 2024 Energy Market with Liam Conway

The Metal Guys Talk Business

51 minutes

1 year ago

S03E11 | The 2024 Energy Market with Liam Conway

Hosts: Pete Comerford and Mike Bolton

Guest: Liam Conway

Episode Title: The 2024 Energy Market with Liam Conway

Release Date: August 20th, 2024

Episode Summary:

In this episode, Pete and Mike sit down with Liam Conway from Greenfields Energy Group to discuss the state of the energy market as of 2024. Liam shares his expert perspective on how the market has evolved since the chaotic period of 2022, the impact of wholesale cost changes, and strategies businesses can adopt to manage their energy consumption and costs effectively. The conversation covers flexible energy contracts, the importance of understanding different cost components in energy bills, and the significant changes in energy contract structures.

Key Discussion Points:

Current State of the Energy Market:

The drastic reduction in wholesale electricity and gas costs since 2022.
Comparison of current prices to the highs experienced during the Ukraine-Russia conflict.

Flexible Energy Contracts:

Explanation of flexible vs. fixed energy contracts and their benefits.
The importance of flexible contracts during periods of high market volatility.

Energy Cost Components:

Breakdown of the different cost elements in commercial energy contracts.
The impact of distribution, transmission, taxes, and levies on overall energy costs.

Targeted Charging Review:

Introduction to the targeted charging review and its implications for businesses.
How changes in standing charges and distribution charges affect businesses.

Energy Procurement Strategies:

Advice on purchasing energy for businesses, including the significance of load shedding and avoiding peak charges.
The importance of understanding contract structures and avoiding overly simplistic price comparisons.

Education and Advice:

The role of educating businesses about their energy consumption and costs.
The need for businesses to seek expert advice to navigate complex energy markets.

Impact on Manufacturers:

Specific challenges faced by manufacturers regarding energy costs.
Strategies manufacturers can employ to mitigate high energy expenses.

Learn more about Greenfields Energy Group here

Connect with Liam Conway on LinkedIn

SEASON THREE of The Metal Guys Talk Business is sponsored by:

SteelBuy - SteelBuy is a digital platform revolutionising the way businesses trade metal products online.

TW Metals - TW Metals is a stockholder and distributor of Nickel Alloy, Aluminium, Titanium and Stainless Steel products in a range of forms including Tube, Bar, Pipe, Extrusion as well as Sheets and Plates.

Comton Group - A recruitment agency powering employment in the Metal, Manufacturing, and Engineering sectors.

The Metal Guys Talk Business is created and produced by Comton Group.

Social Media Accounts:

TikTok: comtonpete and comtonmike
Instagram: comtonpete and comtonmike