00:00Let's start with whether there's any room for optimism.
00:03Greg, as you hear that news of possible future talks,
00:07does it give you optimism, or frankly, is it too late?
00:09Are we going to pay the price anyway?
00:11A bit of both.
00:12I mean, look, the reality is, first of all,
00:13you should always hope for the best, plan for the worst.
00:17We've seen so far, repeatedly, times of optimism,
00:22but every time in the Middle East recently, they've been dashed.
00:26So, you know, we hope this will see the Strait of Hormuz reopening,
00:30but we can't expect it.
00:32If it doesn't reopen by the end of May,
00:36then we start to see the kind of prices,
00:39the wholesale price we're now bedding in,
00:41which means we're going to be paying around £300 more
00:46for a dual fuel bill across the winter.
00:49If it opens before the end of May,
00:51then, hey, there is a chance of it being not that bad.
00:54And if it goes on beyond August, things get even more serious.
Comments