Energy Prices - next 3 Years
Discussion
Just received an email from my energy supplier (Gas and Electricity) offering to fix my gas and electricity prices for the next 3 years.
I am currently on a 1 year fixed started in August. Previous to that I was on a 1 year fixed with the same supplier. My current prices are lower than last years.
I am aware of the troubles with Glencore and this email would not have been sent if the supplier believes prices would be going up.
Therefore I currently believe that the best thing to do is wait for lower prices next year.
What do people think? Does anyone know what sort of winter we are expecting? (Long shot I know).
John
I am currently on a 1 year fixed started in August. Previous to that I was on a 1 year fixed with the same supplier. My current prices are lower than last years.
I am aware of the troubles with Glencore and this email would not have been sent if the supplier believes prices would be going up.
Therefore I currently believe that the best thing to do is wait for lower prices next year.
What do people think? Does anyone know what sort of winter we are expecting? (Long shot I know).
John
Slightly O/T but on the basis that energy companies push fixed deals when they expect wholesale prices to fall, and have made reasonable profits and can be reasonably expected to continue to do so, there is a good case for hedging your energy costs by buying shares in energy companies.
Shares worth 20 times your energy bill should provide dividends to cover your energy bills forever, especially if using your ISA.
Shares worth 20 times your energy bill should provide dividends to cover your energy bills forever, especially if using your ISA.
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