Price fluctuations for each energy source follow their own market dynamics.
In other words, these sources may experience price changes that do not move in the same direction.
This means that a robust risk-reduction strategy involves creating a "portfolio" of energy sources, thereby reducing exposure to significant price volatility.
Of course, every situation is unique.
However, I can cite an example involving a multinational company that illustrates how a client benefited greatly from having two heat-treatment furnaces: one electric and one gas-fired. I showed them how to engage in cost arbitrage, and the results were spectacular.