Gas prices DOWN but bills will be going UP!

Miser1964

Once again the British consumer is being robbed blind by a Govt which appears to be in cahoots with rapacious suppliers.

Gas prices have slumped but the useless Offgem are preparing to add ANOTHER £900 to bills in April. 

Millions of Britons face £900 energy bill hike in April as cap ends | Daily Mail Online

EssexHebridean

Oh marvellous - another thin-on-detail fearmongering Daily Fail article. Just what the world needed... 

QrizB

Miser1964 said:

Once again the British consumer is being robbed blind by a Govt which appears to be in cahoots with rapacious suppliers.

You keep posting this, and it's still not true.

Astria

You know, there are tariffs out there such as Octopus Tracker if you really wish to follow the market rate, just don't expect government subsidy when it's high and the market value when it's low.

macman

OP, have you looked at the forward price projections for wholesale gas next spring? These are what suppliers bulk purchase on, not the one day spot prices, which are only used to top up shortfalls due to colder weather etc.
At present storage in Europe is full, consumption has slumped due to economy measures and exceptionally warm winter weather, and LPG tankers are queueing off Spain due to a lack of re-gasifying plant capacity. basically, Europe is swimming in gas, so the spot price is actually going negative on some days. 
The situation next spring will be very different, as European reserves will be exhausted at the end of winter, and rising post-covid Asian/Chinese demand will probably push up prices to very high levels again, in the absence of much Russian export to Europe. 

Neil_Jones

Miser1964 said:

Once again the British consumer is being robbed blind by a Govt which appears to be in cahoots with rapacious suppliers.

Gas prices have slumped but the useless Offgem are preparing to add ANOTHER £900 to bills in April. 

Millions of Britons face £900 energy bill hike in April as cap ends | Daily Mail Online

Aside from the fact it's the Daily Fail, where does it say anywhere in that article about "gas prices have slumped"?

Spoonie_Turtle

Just like the twits tweets regurgitating this on a certain social media site, you have conveniently either forgotten or simply not been shown the rest of the graph.


Image description: graph of UK gas prices over the last 10 years.  They fluctuate below £100/therm every year until late 2021, when they shoot up.  The peak is ~£650, today's is £286.47 and trending upwards again.  The text above the graph reads "UK Gas increased 115.83 GBp/Thm or 67.88% since the beginning of 2022, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity."