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The #uk #energy sector is in crisis, energy companies are going bankrupt, wholesale prices are up 200 percent!

What’s going on? We do a #tarot reading to find out.

Past - 4 Swords

4 - Swords - Truce

The energy markets of the past weren’t exactly free, they were more of a gentlemen’s agreement. A truce. The EU’s Internal Energy Market set prices, and allowed efficient trade between the nations.

External Influences - 5 Wands

5 - Wands - Strife

But there’s an external influence: Strife. Disagreement between nations, resulting in Brexit and an exit from the Internal Energy market. The UK now has to bid in a market for it’s natural gas, no longer benefiting from the frictionless trade.

Hidden Influences - 13 Trumps

13 - Trump - Death

On top of that, the UK government killed the country’s storage facilities in 2017. Resulting in a just-in-time system which has no slack in it for stresses like a supply shock. By killing the country’s storage facilities, the UK made the energy market more fragile.

Present - 6 Pentacles

6 - Pentacles - Success

You might think that “success” is a difficult card to represent multiple bankruptcy, rising prices, and a market dominated by big monopoly players. But that’s because you aren’t one of the big monopoly players. They are incredibly successful, practically able to print money with reduced competition and increased prices.

Outcome - 8 Pentacles

8 - Pentacles - Prudence

The result of all this will likely be consolidation in the industry markets, less competition and higher prices, but also hopefully a return to hoarding and storage, less just-in-time delivery and a more robust energy sector.

Next time:

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4 - Swords - Truce 5 - Wands - Strife 13 - Trump - Death 6 - Pentacles - Success 8 - Pentacles - Prudence