With the price of oil falling are gas & electricity rates going to drop soon? — Bulb Community

With the price of oil falling are gas & electricity rates going to drop soon?

Petrol and diesel prices have been noticeably cheaper over the past few weeks with the price of oil falling 30%. Does this mean that the variable rate for gas and electricity will also soon be reviewed?

https://www.theguardian.com/business/2018/nov/23/oil-price-falls-brent-crude-cost-barrel-oversupply-concerns

Comments

  • The world price of oil and the price of wholesale electricity in the UK are not necessarily correlated. This is the chart you need https://www.utilityhelpline.co.uk/latest-news/wholesale-energy-prices-update-09-11-18 and you will see that prices are significantly higher than they were in the summer, although the short-term peak in September/October does seem to be over. This chart also shows why several companies that offered fixed-price tariffs based on prices earlier in the year and bought electricity on the spot market have gone bust...
  • so in a nutshell, that's a no then
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