That's what we used to do. We had real time trading screens linked to Reuters at Canary Wharf. They were identical to those that the supplier/ generators had. Based on prevailing conditions we could buy baseload day/ month/ quarter ahead in Summer/Winter tranches of 10 megawatts and then do the same for the peak load. In the Industrial and Commercial Market we had to do the actual transactions with the generators live trading desks re-nPower ( Swindon) for electricity and BG ( Oxford) for firm gas ( we didn't trade interruptible). Every transaction is done on a recorded line and is confirmed in electronic format. The object of the excercise is to iron out the peaks and troughs in the market, with the ultimate aim of achieving preferably below the average of the market price for the entire period under review. It's called " flexible" energy procurement. The licensing systems via Reuters could cost upwards of £10 k per annum and we also bought in expert Energy / Commodity buying services and I'm pleased to say we achieved our goal to the point that sky high energy bills were never a problem for our clients. Its a sobering thought that when the market first de-regulated, electricity baseload was trading at £15 per megawatt hour, whilst in 2015 you were looking at somewhere in the region of £ 55-60 per MWh. With the year on year rises in network costs granted to the REC's by OFGEM and the Climate change imposts that's some increase. The same has happened in the Gas market as well unfortunately.
Avoid any of the big six at all costs - way too expensive. I'm currently with Green Network Energy, they seem o.k. but I never stay with anyone for too long - it doesn't pay to be loyal.
We signed up via Octopus middle of last year, pretty pleased so far Not that it matters a great deal (possibly?) but they're the only which recommended supplier All new referrals also get to split £100 worth of credit with whoever referred them, we've already referred 2 people - Just a nice little bonus. Not the cheapest supplier mind, but their customer service has been great when I've needed to speak to them
I moved to a new place recently and swapped from SSE who previous owners were with the EON and it worked out £20 a month cheaper. Was very easy to switch and cant fault service so far. Allowed me to set up an online account too (I imagine most providers will offer this now) where I can submit meter readings and manage payments etc.
I user flipper.com. They look for the cheapest rates all the time and will flip you when they find cheaper rates (usually twice a year), they take £20 commission, but only if they save you more - usually they end up saving me a few hundred a year.
What they are doing is taking advantage of the variation in the wholesale markets. Oil and gas prices appear to be linked and as Gas is used to generate electricity it has a bearing on power prices. It's a fact that prices change within minute within any trading day. When Trump ordered the recent attack on the Iranian General you would have seen a distinct spike in the cost of crude. The trick for any Utility buyer is to try and anticipate any likely volatility and take advantage by buying forward when the prices are less bullish. https://www.investopedia.com/articl...natural-gas-prices-rise-and-fall-together.asp
