Sir, – Colin Gleeson reports (Business, May 23rd) that “advantageous fuel hedges” saved Ryanair over €1.4 billion in the year to March 31st.
Would Ryanair chief executive Michael O’Leary have an hour to spare to present on Hedging 1.01 to those who dabble in hedging in our major energy suppliers?
There were rapid and sustained energy price increases to the consumer in 2022.
But a fall of 50 per cent in wholesale electricity prices in the year to March 31st, 2023, has not led to any meaningful reduction in retail prices and we have been told not to hold our breath for lower electricity charges.
The only sense I can make of these developments is that our energy suppliers did not hedge in any significant way when prices were low but decided it was the way to go when prices went through the roof. – Yours, etc,
PAT O’BRIEN,
Rathmines,
Dublin 6.