Covid is lowering your energy bills

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The impact of the Covid-19 virus is also being felt in the energy sector. The measures that have been taken are drastically reducing energy consumption. This triggers the effect of supply and demand and energy prices are going into free fall to exceptionally low price levels.

odot corona

The above chart shows both the sharp decline in current variable prices for electricity and gas and the more steady decline in fixed prices for the year 2021 that we can now fix.

In the short term variable energy prices in particular are falling very sharply. In fact, some days or hours demand for energy is so low that tariffs fall below zero. We also notice a decrease in the fixed prices for the coming years, although less rapidly than the current variable tariffs. Meanwhile, we are keeping a close eye on future opportunities at Odot.

Do these negative energy tariffs apply to you also?

Read more about this in our blog on who can benefit from negative stock market prices.


What is the short term impact on your energy bill?

In the short term, the decline in energy consumption causes variable energy prices to fall. If you have an energy contract whereby you purchase at a fixed price, the current low variable tariffs will not apply to you. This is because your energy tariff was determined when you signed your contract or when you set your prices, and is therefore no longer subject to current stock market fluctuations.

If, however, you are currently purchasing your energy at a variable price, you will benefit from the current low variable prices. You will definitely notice the positive effect of the exceptionally low price levels on your invoice.

We always negotiate an energy contract that combines both price options, fixed and variable, on behalf of our customers. As a result our customers currently enjoy the benefits of low variable tariffs.

Not an Odot customer yet?

If you are not yet linked in to our optimal energy purchasing model, please provide us with your energy contract or a recent statement and we will review the options available to you.


What are the long term positive effects?

The impact of the virus is currently felt most strongly on variable daily prices. The fixed price exchange for future years is showing a steady decline. Over the past few weeks there have already been opportunities to fix your energy for the coming years up to and including 2024 at a favorable tariff.

Odot monitors the energy exchanges on a daily basis to ensure that we don’t miss any price opportunities for our customers and we purchase energy at the right price exchange at the right time.

Why not let our experts buy on your behalf?

We negotiate energy contracts for our customers enabling them to buy at both fixed and variable price exchanges. Irrespective of whether you are an SME, industrial consumer or manager of multiple buildings, you will enjoy the best prices on the market at all times.

 

In just a few steps you can join our energy purchasing model, ensuring that our experts don’t miss a single opportunity that would benefit you.

Odot
Odot

Odot will lower your energy costs using a unique procurement model supported by AI and innovative software. Our knowledge of the energy market will ensure that you benefit from the most advantageous tariffs, continuous price monitoring and a contract to suit your requirements.