Surge in Gas Prices leads to increased demand in Woodfuels
October 1st was the first day of the Winter gas season, where heating demand is higher than any other time of the year. This coupled with worsening Gas and Oil crises has lead to an increase in demand for Woodfuels.
When Covid-19 hit the UK, the country’s gas and electricity use fell sharply. This mirrored low demand in other countries, and was met with overproduction from oil and gas companies, which caused prices to plummet. Smaller energy firms took this opportunity to lower prices, in an effort to gain new customers. This meant lower profit margins for large companies, which barely changed their tariffs. A government ban on disconnecting consumers during the pandemic meant utilities had to supply some customers who had no means of paying. As supply fell as people moved out of the pandemic prices have increased.
Therefore the demand for Woodfuel has grown. First and foremost due to price, with rapidly rising fuel costs, wood burning becomes ever more cost effective. Goldman Sachs has predicted Brent crude could hit $90 by the end of the year meaning the average consumer will be impacted by prices hikes. The price of Woodfuel is steady as it is readily available because it no supply issues. This is because It is locally sourced and there is enough supply to meet demand as opposed to gas and oil meaing it's price not only stays low for what it produces but is also incredibly steady.
Furthermore, Wood is exceptionally easy to use as a fuel, lots of homes already have a Woodburner or fireplace and so extracting the fuel is exceptionally easy as opposed to a gas or oil appliance. Lastly, Woodfuel is exceptionally reliable, especially if it is Ready to Burn certifed. You know exactly what you're getting with respect to energy output. This means that it times of crises people turn to what is comfortable and easy to use which is currently Woodfuel.