prices are dropping --dont believe the hype

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  • Its funny that you have posted this after todays increase and one of the emails that I recieved earlier today quotes
    We have just had our prices in and they are up by a large amount - at least
    3p/therm across all months for the next 3 years. If there are any quotes
    which are not urgent it may be prudent to see if the supply situation
    corrects itself over the next few days as you will not get a competative
    price today

    The point is that electricity and gas prices arent even as low as they were in the first two weeks of August so lets not get excited and carried away with things just yet shall we.

    http://www.britishenergydirect.com/pdfs/forwardpricecurves/eighteen_22-09-2008.pdf
  • fatlad1971
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    Its funny that you have posted this after todays increase and one of the emails that I received earlier today quotes

    Gas fell across the board today , within day , day ahead and all futures dropped, (info from heron reports)

    I'm not trying to score points on here and Ive never claimed to be an expert
    but these reports are from British energy.

    whoever has told you gas prices have risen is lying and anyone who takes a 3 year deal at the top of a falling market needs there head examining.

    I take it then you work off tariff sheets , as any price i get is valid until the market closes on the day.
  • Nope,

    Prices are bespoke and the quote came directly from Total GP and was issued at 10.45 this morning. I havent followed todays market as I am out of office and not currently working (officially).
  • fatlad1971
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    Nope,

    Prices are bespoke and the quote came directly from Total GP and was issued at 10.45 this morning. I haven't followed todays market as I am out of office and not currently working (officially).

    Im surprised with that , not saying your wrong but it is different than what other suppliers are saying. the may have hedged on a rising market, daft if they have

    E-on are raising electricity tariff sheets this week as well , while others seem to be dropping
  • 1carminestocky
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    Are we supposed to forget about the price of oil affecting the price of gas 'theory' now? The energy companies seem to have gone very quiet since it fell 33% in 2 months. It's like someone's farted loudly in a full lift and everyone is trying to pretend it didn't happen...
    Call me Carmine....

    HAVE YOU SEEN QUENTIN'S CASHBACK CARD??
  • mech_2
    mech_2 Posts: 620 Forumite
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    Are we supposed to forget about the price of oil affecting the price of gas 'theory' now? The energy companies seem to have gone very quiet since it fell 33% in 2 months. It's like someone's farted loudly in a full lift and everyone is trying to pretend it didn't happen...

    No, we're "supposed" to wait for it to take effect. There's usually a 6 to 9 month lag according to what I've read. So as long as the fall in oil prices is long-lasting enough, maybe the picture will be clearer in March.
  • mech_2
    mech_2 Posts: 620 Forumite
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    Yeah, just read about that myself. http://news.bbc.co.uk/1/hi/business/7630513.stm
  • fatlad1971
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    powerRIP wrote: »
    Oil has gone up $25 today alone. The biggest ever daily increase and trading has been temporarily suspended.

    Just seen that myself , will have to wait and see how the energy markets respond

    The market will settle and oil should stabilize at around $100 a barrel
  • 1carminestocky
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    powerRIP wrote: »
    Oil has gone up $25 today alone. The biggest ever daily increase and trading has been temporarily suspended.


    The spivs who wrecked the global financial system have had to look for pastures new. To be honest, what's happened in the World recently is the very best advert for adopting a communist system. (No, I'm not a communist ;) )
    Call me Carmine....

    HAVE YOU SEEN QUENTIN'S CASHBACK CARD??
  • The point is that electricity and gas prices arent even as low as they were in the first two weeks of August so lets not get excited and carried away with things just yet shall we.

    Date : Monday 22nd September 2008


    Baseload (£/MWh)
    Period Bid Offer
    Day Ahead 118.9 119.9
    Week 40 105.5 108
    Week 41 99 103
    Oct 08 100 101.25
    Nov 08 108.25 109
    Dec 08 99.25 100
    Q4 08 102.15 103.5
    Win 08 98.2 99.25
    Sum 09 73.3 74
    Win 09 80.85 82
    Sum 10 68.25 70
    Win 10 76.85 78.5

    Date : Tuesday 23rd September 2008


    Baseload (£/MWh)
    Period Bid Offer
    Day Ahead120.5 121.5
    Week 40 110.75 112
    Week 41 103.5 108.5
    Oct-08 104.8 104.9
    Nov-08 112.65 113
    Dec-08 103.35 104
    Q4-08 106.8 107.05
    Win 08 102 103
    Sum 09 76 76.8
    Win 09 83.3 83.6
    Sum 10 71.55 71.8
    Win 10 79.7 80

    My point exactly about not getting excited too soon. These day ahead prices are just crazy (equivalent to 12.15p pkwh) before any additional costs.

    All prices for electricity are back up again and I expect gas will follow suit.

    It needs a sustained period of reduction before anyone can say prices are coming down.
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