What is going on in the energy market?
 

I just read that electricity prices will reach unbelievable heights tomorrow in England. £2.5/kWh ??? :eek2:

Norway have started testing it's new cable to England, and exported 1.4GW in a 6 hour test today.
We already have record prices this time of year here in Scandinavia, with extremely low water reservoirs! Probably partly because of the new cable that was connected earlier this year between Norway and Germany.

A brilliant move by the Davos crowd, led by Klaus Schwab.
Lock us down and limit our ability to work and earn an income. Then hit us with record energy prices to ensure we´ll own nothing (and be happy) by 2030.
:-(

Or am I missing the point somehow?

What's your source?, hard to comment without context, I suppose it could be for a very short period of time like 30 min at some pinchpoints when demand outstrips supply. But on average while the prices have gone up considerably they are nowhere near £2.5. Average wholesale price is about £0.107 up from £0.07 in July and I am l paying consumer price £0.1139 which is one of the lowest if not the lowest

Wow that's a good price, who is that with? I'm on a variable tariff at the moment which seems to show as the cheapest when looking at Uswitch comparison (including suppliers which can't auto switch).

My energy rates are going up from £0.17 to £0.22, I was going to fix before the autumn but probably left it too late to miss the autumn rate rise.

Symbio Energy

I switched to Symbio a few months back, tariff we have is 12.011ppkwh plus 12 p standing charge.

Beat me to it. I pay £0.17 + VAT but we're limited to six providers in Northern Ireland and they're all within 1-2 pence of each other.

Thank you +++. Just checked and they are a fair bit cheaper so switching already! Will keep gas with my current supplier for now.

https://www.europower-energi.no/kraf...nd/2-1-1067464

And they even show a screen grab:
http://forum.a8parts.co.uk/attachmen...1&d=1631733866

The page is written in Norwegian, but I suppose you will be able to use a translator

Looks like an anomaly perhaps related to the testing of the new cable. No sign of any major increases here other than a price cap being raised.