At Save On My Power, we aim to provide you with information on how power and gas wholesale costs are tracking, both in the month and season ahead.
We want you to be aware of when prices are likely to increase or decrease, so that you will be more informed when making decisions about when to enter into a new contract or agreeing a contract renewal.
The chart above shows the movement in wholesale power and gas costs since February 2018 through to October 2019. The chart is updated on a weekly basis, and can be used as a guide on the optimum time to negotiate contract renewals which may be falling due for renewal within the next 365 days.
Currently, the month ahead price is for November 2019 and the season ahead price is for Winter 2019/20.
As you will see from the chart, in the season ahead, prices are expected to increase significantly.
On this basis, we strongly recommend that contracts falling due for renewal within the 365 days are negotiated and locked-down now to avoid the forecast price increases.
With increased wholesale and non-commodity costs forecast, we recommend consideration be given to longer-term contract options at this time.
Save money both now and over the next few years by agreeing a 2, 3 or 4-year contract option.