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Gas & Electric Prices - Up or Down

including Budgets
Cornytiv34
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Gas & Electric Prices - Up or Down

#425179

Postby Cornytiv34 » July 6th, 2021, 10:45 am

Not sure where this should go.

Mulling renewal of contract at the end of this month. Trying to get some feel of forward wholesale & retail prices for the next year or two. Simple decision, shall I go Fixed 2 years or Flexible? Quite happy with Octopus our current efficient supplier who are offering terms for both at increased prices off +20 to 25%. Is this fair and reasonable? Which way is the market going? It seems that Green subsidies are causing quite a disruption and Parliamentary indications that there may be changes adding to the problems.

Price comparison site comments as to customer relations and actual prices after a change, show many unhappy. Very few sites have comments from renewing rather than new customers. I prefer to keep my supplier.

Looking at articles predicting possibilities and problems I found these but not easy to draw conclusions.

General discussions sources were these
Articles from 2021
https://www.ofgem.gov.uk/publications/i ... nd-profits
This seems to indicate profits (EBIT) falling

https://www.virtual.prosperoevents.com/ ... ity-prices
Funny, declining cost and rising prices!

Article from 2018
https://www.sciencedirect.com/science/a ... 2117312546
Renewables still require gas turbine for backup

Gas forecasts were these
https://longforecast.com/natural-gas-fo ... -2018-2019
That ended natural gas pricing going forward

What do others do rather than swap and hope?

Mike

88V8
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Re: Gas & Electric Prices - Up or Down

#425256

Postby 88V8 » July 6th, 2021, 3:14 pm

I looked into this last December - E7 electric only btw, there is no gas where we live - and the potential cost saving was trivial.
I am happy with Ovo, so I did a 2 year fix. That replaced a prior fix, I think also 2 years.

The green crap, as Cameron is said to have called it, has to be paid for by someone. Otoh, wind is getting cheaper.
Toss a coin.

V8

Cornytiv34
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Re: Gas & Electric Prices - Up or Down

#425626

Postby Cornytiv34 » July 7th, 2021, 5:27 pm

Decided if politicians are going to mess about with subsidies, as seems to be indicated, it will be impossible to see what is going to happen so did a 2 year fix with Octopus.
Mike


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