selectortone
Still waking up not dead in the morning
The price of natural gas has been falling dramatically on the world market in recent weeks. In fact it is now around half what it was 12 months ago, BEFORE the huge rises caused by the Ukraine invasion.
As I understand it, the energy companies buy their gas forward, by around 6-8 months. That means that the gas we consumers will be using in the autumn will be paid for by the energy companies at today's price.
So, in a sane world, we should actually be paying LESS for our gas in six months than were this time last year (c£1200/yr for an average household in Jan 2022). And yet, the energy companies are saying that 'due to external forces' the price won't be dropping by anything like that.
Something is not right here. Someone somewhere appears to be making an obscene amount of money. Or what am I missing?
As I understand it, the energy companies buy their gas forward, by around 6-8 months. That means that the gas we consumers will be using in the autumn will be paid for by the energy companies at today's price.
So, in a sane world, we should actually be paying LESS for our gas in six months than were this time last year (c£1200/yr for an average household in Jan 2022). And yet, the energy companies are saying that 'due to external forces' the price won't be dropping by anything like that.
Something is not right here. Someone somewhere appears to be making an obscene amount of money. Or what am I missing?
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