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Huge increase in wholesale gas prices.


adam2
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Whilst d0m3stic gas and electricity consumers are protected from market prices by the government "price cap" this does not apply to business users. The going rate for electricity is now about 60 pence a unit, payable when a fixed price deal expires, or when the supplier goes bust and the customer transfers to an alternative supplier at market prices.

Prices are broadly similar in most of Europe. Indeed, very expensive UK electricity has been exported to France where prices were even higher.

At present it can be cheaper to use a diesel generator than to buy electricity at the prevailing market price.

About 20 gas and electricity retailers have now gone bust and rumours continue to circulate that one of the major energy firms are about to fail. 

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All the other energy retailers that went bust ceased trading and their customers were transferred by OFGEM to alternative suppliers. 

This one is different as "bulb" will continue trading under government subsidy and control.

Dom3stic gas and electricity consumers are protected from market prices by the government "price cap" for now at least. I doubt that this can continue forever.  Non d0m3stic users are already having to pay market prices when a fixed price deal ends or when the supplier goes bust and the new supplier charges a market price.

The current free market price for electricity is about 60 pence or more a unit, compared to about 12 to 15 pence a unit charged a year or two ago. This has clear implications for entertainment venues when considering replacement equipment.

 

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