Any relief we might get as customers - be sure they’re still gouging us for record profits.
They’ve seen just how much they can get away with, they’re not going to go back.Same thing as with food prices at the store. They found out they can get away with reducing the content and doubling the price. This will now go on for conceivably future.
No it’s not a good comparison. The bulk food prices themselves are indeed sold on a similar commodity market, but the pricing of packaged goods is marked by companies selling those packaged goods. Oil and gas are sold at the rates bought and sold through futures contracts directly from the producers. You’re paying the rate the traders got it for, usually with a regulated mark up. If you’re buying from a private utility then you’re on your own buddy.
For anyone wondering: still significantly above the pre-war price
This brings the continent closer to the traditional patterns seen before the pandemic when prices, sustained by Russia’s abundant and cheap deliveries, used to reliably range between €15 and €25 MWh.
From a personal perspective, my restaurant energy bill (gas/electric) went from peak season August 1350€ last year to less than 800€. Anecdotal, but I absolutely needed to see lower pricing this year.
