Telecom Plus Recovery from here @ 125p?

Surely a hedging strategy does not solve all the problems of increasing energy prices?

As I understand hedging in this context it means getting a firm commitment for future prices over a certain period. Either you can do that for a period of six months maximum or a year or longer I don't know but I doubt it. There is obviously a cost to getting such a commitment.

Hedging will therefore mean there are less likely to be nasty surprises in the half yearly results but unless I am mistaken, it does not protect against longer term increases in cost with the subsequent erosion of margins and or loss of customers.

Please correct me if I am wrong but hedging does not seem to be the panacea that some people think.