hi, I have had really bad depression since becoming perimenopausal. I started HRT with 37mcg Estradot patches and 200mg Utrogestan, taken orally 15-28 of the month. This was awful: depression, profound fatigue, stabbing pains. Eventually -- it took nearly a year -- I have ended up with 200mcg oestrogen and 100mg Utrogestan, taken vaginally days 15-28 (you can have a lower dose when you take utrogestan vaginally because it is better absorbed). Taking it vaginally helps a lot. Upping my oestrogen dose has helped a lot, though that only happened when I paid to see Dr. Louise Newson privately. I still get at least one day a week of depression, and today is a bad progesterone day - weeping, panic, blackness - but all in all things are better. It took a lot of experimenting though: I went from 37 mcg utrogestan to 50 to 100 and finally 200. It's the highest dose so I don't to be on it for ever but for now I'm OK. I was told that as I'm "young" -- 48 -- I needed more oestrogen. It's definitely true, on the higher dose I sleep way better, and I only lose a few days to depression, anxiety and panic a month rather than losing weeks at a time. I used to get bad PMT and am guessing that's why I have so many mental health issues with menopause. I'd suggest you have a talk to your GP about trying a higher dose.