| Urgent help please - anyone in the energy business? 14:02 - May 29 with 2533 views | Lord_Lucan |
I am contracted until 2026 but my broker just called and advised that electric is going to do nothing but go up and up year on year.
She advises me that she has secured a price of .32p KWH from 2026 and also advises that she thinks by then the price will be around the 45p - 50p mark
I know she is obviously on commission but I seek advice.
Do I twist? |  |
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| Urgent help please - anyone in the energy business? on 14:06 - May 29 with 2465 views | ipswichultra |
The new electricity cap from July is 22.36p per kWh.
Probably worth sticking, I don’t think there are many fixed terms deal that will be significantly better than that for a while. |  | | |
| Urgent help please - anyone in the energy business? on 14:26 - May 29 with 2333 views | JakeITFC |
She's talking absolute bolllocks. |  | | |
| Urgent help please - anyone in the energy business? on 14:31 - May 29 with 2290 views | longtimefan |
I'm not an expect - just asking out of interest. Is this business use? Does the energy price cap apply to business use? | | | |
| Urgent help please - anyone in the energy business? on 14:32 - May 29 with 2280 views | Deano69 |
Had an email from Scottish power this week telling me prices have dropped? |  |
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| Urgent help please - anyone in the energy business? on 14:40 - May 29 with 2220 views | Zx1988 |
What is your experience of your broker up until this point? Have you used them for a while and have they previously been generally trustworthy and reliable?
Forecasting what energy prices will be doing in two years' time seems a little bit of a stretch, although I have no industry knowledge here. Are they willing to share with you the evidence upon which they are relying in order to make these claims? | |
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| Urgent help please - anyone in the energy business? on 14:50 - May 29 with 2169 views | Bent_double |
They always say that though, don't they?
I'm not in the energy business, but I have business gas and electricity contracts - both with BG Lite. My broker got in contact a month or so ago as I'd just entered the 6-month window for renewal for the gas contract, I was expecting the worst, but he's got me another 3-year deal with BG Lite, lower standing charge and only half a penny more per kwh. I was impressed, and relieved!
I'm not a big user of energy, so maybe that's why - my electricity is due for renewal this time next year, so will find out in 6 months or so what's happening with that.
But, might be worth the hassle of going to another broker.... |  |
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| Urgent help please - anyone in the energy business? on 15:07 - May 29 with 2062 views | Oldsmoker |
Got a letter from EDF.
They'll adjust my DD accordingly and take funds from my account automatically.
They've told me not to worry my little head and not even bother to check my DD 'cos as a money grabbing Megacorp they can be trusted.
Isn't that nice? |  |
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| Urgent help please - anyone in the energy business? on 15:08 - May 29 with 2056 views | catch74 |
| Urgent help please - anyone in the energy business? on 14:50 - May 29 by Bent_double |
They always say that though, don't they?
I'm not in the energy business, but I have business gas and electricity contracts - both with BG Lite. My broker got in contact a month or so ago as I'd just entered the 6-month window for renewal for the gas contract, I was expecting the worst, but he's got me another 3-year deal with BG Lite, lower standing charge and only half a penny more per kwh. I was impressed, and relieved!
I'm not a big user of energy, so maybe that's why - my electricity is due for renewal this time next year, so will find out in 6 months or so what's happening with that.
But, might be worth the hassle of going to another broker.... |
Your gas should be down, we’re being offered 4.5p instead of 15.4p - standing charge down too. (British Gas would you believe!) We do use a fair amount with a catering kitchen.
Lucan - I’ll check what we’re being offered for electricity and get back. |  |
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| Urgent help please - anyone in the energy business? on 15:09 - May 29 with 2045 views | Lord_Lucan |
| Urgent help please - anyone in the energy business? on 14:26 - May 29 by JakeITFC |
She's talking absolute bolllocks. |
I forgot about you Jake, thanks.
Can you give me an idea of what to tell her when she calls back tomorrow - to make it look like I know what i am talking about.
If you do that I will forgive you for charging me a fecking crazy rate for a year. | |
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| Urgent help please - anyone in the energy business? on 15:15 - May 29 with 1964 views | Bent_double |
| Urgent help please - anyone in the energy business? on 15:08 - May 29 by catch74 |
Your gas should be down, we’re being offered 4.5p instead of 15.4p - standing charge down too. (British Gas would you believe!) We do use a fair amount with a catering kitchen.
Lucan - I’ll check what we’re being offered for electricity and get back. |
Well, mine will be just under 7p a kwh for gas, not as good as yours, but still not bad!
What I find incredible is that the broker has to state on the contract how much they will receive from the BG, and it's pretty much 50% - not sure how BG actually make any money! | |
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| Urgent help please - anyone in the energy business? on 15:28 - May 29 with 1924 views | GlasgowBlue |
Pre Ukraine I was paying 19p KWh. Lat year I had to renew and went for a one year contract at 28p KWh day and 22p KWh night. I've just had a renewal quite at 22p and 18p. That is with SSE. |  |
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| Urgent help please - anyone in the energy business? on 15:49 - May 29 with 1826 views | JakeITFC |
| Urgent help please - anyone in the energy business? on 15:09 - May 29 by Lord_Lucan |
I forgot about you Jake, thanks.
Can you give me an idea of what to tell her when she calls back tomorrow - to make it look like I know what i am talking about.
If you do that I will forgive you for charging me a fecking crazy rate for a year. |
https://www.bfygroup.co.uk/blog/price-cap-falls-again-to-1-568-and-more-changes-
Can reference this - doesn’t go out to 2026 as it stands but you can see the trendline is relatively flat (these numbers are domestic but relate to prices of somewhere in the region of 21-25p/kWh. The current price cap is going from 24.5p/kWh to 22.36/kWh.
Your underlying costs as a small business shouldn’t really be out of kilter with that massively. Wholesale costs are off massively compared to a couple of years back and 2026 wholesale is actually trading about 1p/kWh lower than 2025. Her assertion that it’s going to be 45-50p is literally plucked from thin air (unless she knows something about a war that the rest of us don’t). | | | |
| Urgent help please - anyone in the energy business? on 15:54 - May 29 with 1787 views | Lord_Lucan |
| Urgent help please - anyone in the energy business? on 15:28 - May 29 by GlasgowBlue |
Pre Ukraine I was paying 19p KWh. Lat year I had to renew and went for a one year contract at 28p KWh day and 22p KWh night. I've just had a renewal quite at 22p and 18p. That is with SSE. |
I took over a business in 2022 and it was when the energy was going through the roof. No one was taking new business on so I had to stay with current supplier - but I had to sign a new deal as it was another legal entity on the contract.
I got screwed at 60p per KWH - and that was Jakes mob! | |
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| Urgent help please - anyone in the energy business? on 16:45 - May 29 with 1689 views | Clapham_Junction |
| Urgent help please - anyone in the energy business? on 14:31 - May 29 by longtimefan |
I'm not an expect - just asking out of interest. Is this business use? Does the energy price cap apply to business use? |
No, there's been no cap/subsidy for business users since the Energy Bill Discount Scheme ended on 31 March. |  | | |
| Urgent help please - anyone in the energy business? on 16:48 - May 29 with 1653 views | Dubtractor |
| Urgent help please - anyone in the energy business? on 14:26 - May 29 by JakeITFC |
She's talking absolute bolllocks. |
What he said. They'll keep dropping for a few months, go up a bit again over winter, then it's a bit less certain from there. But we shouldn't see prices like last year again for a while. |  |
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| Urgent help please - anyone in the energy business? on 17:01 - May 29 with 1595 views | Clapham_Junction |
| Urgent help please - anyone in the energy business? on 15:09 - May 29 by Lord_Lucan |
I forgot about you Jake, thanks.
Can you give me an idea of what to tell her when she calls back tomorrow - to make it look like I know what i am talking about.
If you do that I will forgive you for charging me a fecking crazy rate for a year. |
SSE publish daily updates of energy commodity markets looking five years ahead (today's one is here: https://info.sseenergysolutions.co.uk/sse-energy-solutions-daily-update-29.05.24
The table at the end shows what prices commodities are currently trading at. For electricity you can probably add about 12p/kWh for non-commodity costs. The average for 2026/27 (S26 and W26) is £74/MWh, which equates to around 19p/kWh with non-commodity costs.
The table below in the link below is based on commodity prices in mid-March and was around 18p.
https://brownlowutilities.co.uk/images/images/xnon-commod-table.png.pagespeed.ic [Post edited 30 May 2024 2:51]
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