Electric gas prices - be wary of fixed rate octopus deal, Ofgem price cap details.

Yep. It's worth noting there is another effect going on here that hasn't been picked up yet. The current small suppliers are going bust due to not having hedged enough in advance.

Big players will have hedged their expected demand, but if the demand is higher than expected, they have to buy that extra energy at the current market rate. That can push even medium sized suppliers into trouble too... Which results potentially in contagion risks.

The third wave can be when these bust suppliers don't make their renewable obligation payments, with the costs then borne by taking suppliers, unexpectedly, pushing yet more under the water line.

And ALL of this can be laid at the feet of successive governments and their energy policy choices. All of the risk of these events are out on suppliers. Generators are protected on the fantasy basis that suppliers can recoup costs from customers.

At the same time those customers are told the suppliers are profiteroles and to hunt arrive for cheap deals. The only reason those deals are cheap is small suppliers taking excessive risks knowing they won't have to carry the whole cost of their failure.

Remind you of banking at all?

/r/UKPersonalFinance Thread Parent