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Wholesale Electricity Costs,
Could some please explain why electricity bills are going through the roof when the wholesale price is now the same or lower than this time last year, I cannot get a satisfactory answer, it is like the government want it held artificially high.
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Comments
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It's because (unless you're on Octopus Tracker or Agile) you're not paying the spot price, you're paying the price that energy compnies had to pay earlier in the year to advance-purchase the energy you're using now.If you were on a tariff where you pay the spot price, you'll also be running the risk of paying £1 a kWh later in the winter if/when prices rise again.N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill Coop member.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 35 MWh generated, long-term average 2.6 Os.3 -
The current price of wholesale electricity is now 19% LOWER than this time last year at just 157p per MWh...
Yet we are still charged such high amounts!Look at this link and find the bottom of this page to see how much electricity is being traded at; www.tradingeconomics.com/commodities
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Day ahead or immediate supply is not the same as month/year ahead, future delivery.Chris20012001 said:The current price of wholesale electricity is now 19% LOWER than this time last year at just 157p per MWh...
Yet we are still charged such high amounts!1 -
What has that link got to do with current tariffs? You seem to be confused in the same way the OP is.Chris20012001 said:The current price of wholesale electricity is now 19% LOWER than this time last year at just 157p per MWh...
Yet we are still charged such high amounts!I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
Look at this link and find the bottom of this page to see how much electricity is being traded at; www.tradingeconomics.com/commodities
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