Wholesale gas prices currently about half the price they were this time last year!
ofgem are obviously “a safe pair of hands”… for tugging off the energy suppliers on demand eh!
typical ofgem meeting probably involves ofgem bent over a boardroom table and loving it eh!
A crucial missing statistic from this graph is volume of gas traded/day over the same period. And you really also want the details of where it was traded to? who the two trade parties of any exchange were. (i.e. selling it to themsselves under another name) I reckon you would soon come to the conclusion of some fishy entities driving prices. The names of board members and m.d.’s of all the companies in trades, and the actual executor of the trade and the line-manager/customer of the executor, would help in spotting the crossover, though aliens in masks with lots of identities might still flummox you, even if you had the right to see a named and imaged person on demand at any time.!. The covid masks eh! largely ineffectual for stopping transmission (the ppe grade recommended were not even at vapour protection level) but as an identity concealer…. useful.
I do not think the public should have to pay for the energy suppliers failure to negotiate a good price, it is their own problem they bought when prices were high! They should have bought in May-June and had built storage facilities. (How do we know they did not buy in May-June and are just falsely saying they payed high for it?)
In fact the massive profit increases of the energy companies indicate they bought when price was low and are selling at a vastly inflated price!
The markets do not work for the public obviously, but you can be sure they work well for the corporat-king symbiotic borganism of corporat/government, which is why nothing changes.
