MSE news: Energy firms told to slash prices by regulator

dkwhitaker

Why are electricity prices so high when the market price has fallen by over 50%.

Anyone can see the half hourly wholesale prices at the brmeports.com website. This site covers the day to day market prices and contains historical data for years back.

The prices are in £.MWh and are directly translared to pence/KWhr by dividing by 10.

eg £25 MW/hr is 2.5p/KW/hr

Placing this in the public domain would have a immediate impact.

1carminestocky

Ah, but the enery suppliers will tell you that they are basing their current retail prices on the stuff they purchased in advance several months ago. They seemingly have a knack of buying all their wholesale supplies when the price is high. Curious, isn't it? :rolleyes:

Windmill_Farmer

1carminestocky wrote: »

Ah, but the enery suppliers will tell you that they are basing their current retail prices on the stuff they purchased in advance several months ago. They seemingly have a knack of buying all their wholesale supplies when the price is high. Curious, isn't it? :rolleyes:

Well this time last year they were saying they bought all the winter gas in the summer when prices were highest, so the same should happen again
and we should get the very low prices.

The gas companies are getting away with murder on prices.

Basically OFGEM says cut your pprices and the companies say no and then OFGEM does nothing, it's disgusting.

Something must be done about it.:mad: