Time To Consider A Longer Contract
As with all things, energy prices go in cycles. I joined the energy sector in 2014 when the market was as low as it was in 2008. Clearly I joined at the lowest end of the cycle. You all remember in Winter 2015 when the petrol price per litre was 0.98p. Now were about 13% above that. The average price per kWh has increased by about the same in that period however for customers that use energy brokers, they really notice the difference.
Although the average price has only changed by 15%, the absolute bottom line price has changed drastically in two years. Since the EU referendum suppliers put their base prices up by 1-2% every month.
If you worked with me in 2015 you would have been on 8-10pence per kWh. Now the cheapest client I have is on 10.5pence p/kWh, with the average kWh being 12pence.
The question may arise, who’s to blame? If you’re interested give me a call and we can discuss why the Governments plan to have half hourly meters in every property, domestic or commercial in the next 5-7 years is both pointless and expensive for us.
Any ways let’s forget the blame game and look to what you can do about it. Gas keeps getting cheaper as technology becomes better, we’re able to store it more cost efficiently. So don’t fix that one for 5 years, I can almost guarantee I’ll beat your current gas price now.
Electricity on the other hand is a different fish. About 30% of electricity is made from Gas. Odd thought I know but it’s true, the cost of making electricity is cheaper but the cost of transporting it and meeting these ridiculous government regulations/plans costs stupid amounts of money. I’d very rarely beat your current electricity prices unless you got ripped off previously. I’d recommend going for a two or three year price. Of course the prices might come down, but I most certainly doubt it.