With a glut in global oil supplies, Brent Crude Oil prices have halved over the past six months. Along with a warm winter, the UK is now in a comfortable supply and demand situation. This means that since the start of December we have seen wholesale gas prices fall by around 17% and wholesale electricity prices fall by 10% - the lowest they have been in three years!
What’s more, the premium attached with doing a longer term deal (2-5 years) has also narrowed - meaning it may be a good time to considering a longer term contract. Most suppliers will also price corporate customers as much as 12 months in advance of the start date!