It is a great opportunity to place fixed-price contracts now, according to Inenco’s Y Report.

That’s because the gas and power markets are “largely at contract lows”.

Dorian Lucas, Energy Analyst said: “There is scope for prices to fall going into the summer as supply fundamentals improve, however if you look in a year-on-year saving, it is definitely worthwhile entering the market now and locking in those contract low prices.”

Customers looking to place flexible price contracts need to consider their attitude to risk.

Mr Lucas added: “If you’ve got quite high cover already, the current oil prices don’t represent necessarily a great opportunity to increase hedges further.”

However customers with low hedges should consider taking “a little bit” of power to mitigate some of the risks ahead of the summer.