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Record gas prices? nope….
- Thread starter Macsky
- Start date
UK NBP Natural Gas Futures Pricing
Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the National Balancing Point (NBP) Virtual Trading Point, operated by National Grid. Delivery is made equally each day throughout the delivery period.<br>
www.theice.com
Yeah, I posted the above chart on a couple of threads recently. Household price cap is a lagging number tbf.
Chae1
Member
- Location
- Aberdeenshire
Gas is a issue, but with wheat futures @ £350/t I can't see price dropping.
Do they use wheat to make fertiliser.
Do they use wheat to make fertiliser.
- Location
- Ardrossan Ayrshire
Jaw dropping.
New fendt combines all round!Gas is a issue, but with wheat futures @ £350/t I can't see price dropping.
Do they use wheat to make fertiliser.
Chae1
Member
- Location
- Aberdeenshire
Not when your feeding the barley,wheat to livestock.New fendt combines all round!
Great tax saving tools.
Goweresque
Member
- Location
- North Wilts
The reason domestic gas prices are not based on the day ahead price is the one that has recently bust loads of energy supply companies. Namely that as we have a price cap, when the short term price rises above the cap then you are losing money hand over fist, and eventually run out of money. Lots of small energy supply companies were trying to buy gas and electric on the short term market and sell to domestic customers, which worked while the short term prices were generally lower than the cap. But as soon as there was a sustained rise in short term prices they were trapped, as they couldn't raise prices to the consumer, due to the price cap.
Thus the problem is (as almost inevitably is the case) the result of the State interfering in markets. By placing a price cap on energy bills they have ensured that supply can only be priced based on long term wholesale contracts. This means that (as is the case now) when short term prices are below long term ones then consumers are paying over the odds. But of course when short term prices are higher than long term ones the consumer is better off under this system. Swings and roundabouts. So unless last winter you were demanding to pay sky high short term prices for your gas and electric, instead of your State capped price, then you have no right to complain now that you should be benefiting from the current glut of gas in the UK, and subsequent cheap day ahead prices.
Thus the problem is (as almost inevitably is the case) the result of the State interfering in markets. By placing a price cap on energy bills they have ensured that supply can only be priced based on long term wholesale contracts. This means that (as is the case now) when short term prices are below long term ones then consumers are paying over the odds. But of course when short term prices are higher than long term ones the consumer is better off under this system. Swings and roundabouts. So unless last winter you were demanding to pay sky high short term prices for your gas and electric, instead of your State capped price, then you have no right to complain now that you should be benefiting from the current glut of gas in the UK, and subsequent cheap day ahead prices.
renewablejohn
Member
- Location
- lancs
Its just a big con. Totally agree with the maximum amount of exports of both gas and electric to Europe. Also since the price hike on 1st April electric demand has dropped through the floor from approx 40GW to 30GW with 5GW being exported to Europe including Norway. With such a drop in demand we have now had the crazy situation were renewables have on occasions generated over 60% of demand compounding the gas oversupply problem.
Simply because they can!!!
And of course, what’s happened is that so many of the small competitive firms have gone to the wall leaving the huge greedy b@stards a clear field to profit unencumbered by those pesky little firms. Not exactly good for competition is it.