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Energy prices

  • 16 March 2021
  • 4 replies
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It would be useful if Pure Planet could provide a tab in each user’s account with a historical chart showing the wholesale electricity and gas prices which Pure Planet has used since beginning to operate. This allow users to take a more informed view in the decision between fixed and floating energy prices.


4 replies

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Hi there @alternativecarpark 

Just to check - do you mean the changes in tariffs?

I suspect the changes in wholesale prices are in fact several times a week if not several times a day. But then tariffs vary between regions, which is another complication. And bear in mind that the wholesale price is only part of the tariff, about 60%, if I remember correctly.

I completely understand what you are trying to achieve, just not sure it's possible. Be interesting to see what others think.

Regards

Stephen

I would have thought the wholesale prices Pure Planet are paying would be commercially sensitive information, and constantly changing.

Then there’s the fact that transportation and other costs would vary, and ‘intangibles’ would confuse things, for example:
In the related field of Heating oil:

Peak price in England during last 12 months: 47.97 ppl 25th March 2020 
Lowest price  in England during last 12 months: 18.73 ppl 30th April 2020
Current price in England 43.75 ppl 14th March 2020  

Now if you were ordering in the period before 25th March, you’d see steadily increasing prices, and may think ‘now’s the time to buy before it goes up.’ Between 25th March and 30th April (the sweet spot) you may hold off to see if prices kept dropping, or you may decide, as I did on 1st April that ‘because prices are at a three year low, (36.90 ppl) now’s the time to buy.’  There’s no real way to accurately predict which way prices in the energy markets will move.
   

Hi @alternativecarpark, thanks for posting an idea! 

We could definitely look into displaying the historical unit rates - for example displaying the unit rates of our variable tariff over the last year, two years… relevant to your property’s region in your account. Do you think that’d cover it? 

That would certainly help Natalie. The Rolls Royce solution would be a chart showing historical unit rates monthly for the relevant regiongoing back as long as Pure Planet has been in operation. When analysing market trends, the longer the time series the better.

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