It is Obvious

Chris Rick has got altogether too much to say

Turn the light on

Posted by chrisrick13 on April 21, 2015

It is obvious: Leave it to the experts

What do you do when someone comes along and says that they want you to become an expert in the energy futures market?  You have to gain that ability over a couple of weeks.

So it is that my energy company has posed the deal to me.  Pay £X for my energy and it will vary depending on the market.  But that is not the open market because they have a whole department with 30-year experts in energy buying oil and gas futures trying to get the lowest price they can into the future.  My other options are £X+£Y fixed for a year into the future or £X+£Y+£Y fixed for two years into the future.

Actually they are offering me an insurance policy.  They are offering me a bet on energy prices.

Why can they not be forced to offer me the best price they can trade for plus (say) 5% profit.  Then they have got an insurance policy and I have the cheapest energy it is possible to get.

As a 64-year consumer of energy I can tell you energy is not going to get cheaper…oh dear.

It is obvious: Leave it to the experts and they will take your money


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