July Prices Update

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Prices Update as of 7th of July

Prices generally change on a month to month basis unless something major happens in the world of currency or oil. The month of July has seen the average prices of electricity going up and the average prices of gas going down.

In previous months, March – June, we saw prices fall but now that looks set to be back up on the rise.

I’ll update this with percentages once all the suppliers release their prices.

If you need anymore info just get hold of me on me@hamedadefuwa.co.uk

Energy Suppliers Updated So Far

Corona Energy 1.7% electricity decrease & 2.7% gas decrease.

British Gas – electricity increase & gas decrease (% unknown).

EON – 2% electricity increase & 0.5% gas increase.

Scottish Power – 1.43% electricity increase & 3.25% gas increase.

Crown Gas – 3.2% electricity & gas increase.

Gazprom – 1% electricity & gas increase.

Total Gas & Power – 0.08% electricity & gas increase.

Dual Energy – electricity & gas increase – no %’s released.

Npower – no increase/decrease information released, just indicated prices have changed.

Why Have Energy Prices Gone Up? – Explained Simply!

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Energy prices have risen since Brexit. It might sound like scaremongering but it’s the truth. Since the turn of July, each month the prices have risen. All of us brokers hate it just as much as you do, our job is easy when prices are low.

As the GBP (£) collapsed and is now not worth as much as the USD ($), the prices for energy have gone up. Why? Raw energy (Oil, Coal, Natural Gas), before it’s been converted into energy we use, is priced in US currency all around the world. Hence it costs more British Pounds to buy the raw energy.

There are other reasons as to why the prices have gone up, winter, greed from the suppliers, EDF doing random tests etc.