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MSE News: Will the big freeze hit energy bills?

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MSE News: Will the big freeze hit energy bills?

edited 30 November -1 at 1:00AM in Energy
17 replies 2.5K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in Energy
This is the discussion thread for the following MSE News Story:

"Energy insiders say a surge in wholesale prices due to the cold snap may delay future price cuts ..."
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  • wakeupalarmwakeupalarm Forumite
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    When wholesale prices drop the energy companies tell us they buy up to 2 years in advance so consequently there should be no increase in prices until 2014.

    Or is it the old trick of prices have to rise immediately when there is a cold snap and take 2 years to fall when its warm?

    Its the same story every time this happens, why doesn't Martin call them on this?
  • DMFRDMFR Forumite
    74 posts
    I'll correct the sentence for you.
    "Energy insiders say a surge in wholesale prices due to the cold snap [STRIKE]may[/STRIKE] WILL delay future price cuts ..."
  • torbrextorbrex
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    With the increase in demand for gas use in Russia the supply to Europe has been reduced accordingly and although the supply company Gazprom say that they are doing everything they can to keep the supplies as constant as possible, some countries are already seeing a reduction in their supply.

    This will be the excuse used when BG puts up the price of their wholesale gas and all the power companies follow suit with higher than expected increases in the retail prices.
  • PincherPincher
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    It's just a blip, for christ's sake.

    All over by Monday.
  • edited 4 February 2012 at 6:40PM
    reduxredux Forumite
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    edited 4 February 2012 at 6:40PM
    What big freeze?

    It's minus 20 to minus 25 right now in some countries in eastern Europe, so I don't think we have any right to complain.

    The winter is more than halfway though, and it's forecast to be cold for only a short time here, getting warmer tonight or early in the morning. I'm not saying it isn't going to be cold again, but there's a reducing amount of time for it to happen.

    Until now this house has saved quite a bit on fuel compared to last year. They cut the direct debit plan on the last statement, down to about two thirds of what it was a year or two ago.
  • Andy_WSMAndy_WSM Forumite
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    It's modern day organised crime, that's what it is. The energy companies must THINK we are all mugs.

  • MSE_MartinMSE_Martin MoneySaving Expert
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    Pincher wrote: »
    It's just a blip, for christ's sake.

    All over by Monday.

    Actually its the other way round - we've had a very mild winter, which has seen the energy companies shave prices down by about 2.5% on average. So all this is just pulling a little back off that momentum
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
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  • PincherPincher
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    What momentum? All I saw was some token gesture from the suppliers some of which are only effective from end of February.

    One night of snow, -3 degrees for a few nights, and it will affect energy prices? Mad.
  • What big freeze, or has London got a dusting again ;)
  • worldtravellerworldtraveller Forumite
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    Spot gas prices (within-day delivery) have today risen to their highest levels since early 2006 and are up around 50% from the level at the start of the cold spell. Currently around 79p/Therm.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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