Apparently this explosion has the potential to hit UK prices

hollie.weimeraner

http://metro.co.uk/2017/12/12/italy-declares-state-emergency-major-gas-explosion-austria-7153652/

The price of UK gas has supposedly risen from 57p per therm to 95p per therm and may have further ramifications.

I think we used to call it putting all our eggs in one basket at one time.

CharlieBilly

They also temporary closed one of the pipes under North sea for maintence due to a leak https://www.energyvoice.com/oilandgas/north-sea/158585/small-pipe-leak-near-aberdeen-threatens-sweeping-north-sea-shutdown/

Mortgagefreeman

I guess Suppliers will be hiking up the cost to consumers pretty quickly. This isn’t looking good.

tberry6686

CharlieBilly wrote: »

They also temporary closed one of the pipes under North sea for maintence due to a leak https://www.energyvoice.com/oilandgas/north-sea/158585/small-pipe-leak-near-aberdeen-threatens-sweeping-north-sea-shutdown/

Thats an oil pipeline - no effect on gas

Londoner_1

Gas prices up to 99p a therm, before falling back due to halt in gas supplies in Europe because of gas blast plus pipe crack.

https://www.ft.com/content/bf8732be-df27-11e7-a8a4-0a1e63a52f9c

spot1034

Presumably the majority of the energy we are using right now will have been bought by suppliers on fixed price contracts, so it is only likely to feed through to our bills in the longer run. If the wholesale price falls back quite rapidly the effect will not be too severe. If not, we can certainly expect much higher prices next year.

However I wonder whether this might have the potential to put one or two of the smaller suppliers into a very serious position if they have to buy additional energy at much higher prices, yet are unable to pass this cost on to customers on fixed term deals.

brewerdave

Glad I've fixed gas price until November 2019 - however, that is with a "smaller" supplier so..........watch this space if wholesale prices continue upwards.

[Deleted User]

And the Austrian pumping station is now back online, Panic over. https://uk.news.yahoo.com/austrian-gas-hub-back-online-explosion-092656230.html

thor

gsmlnx wrote: »

And the Austrian pumping station is now back online, Panic over

Yeah but you just know that the utility companies will have been overjoyed by the mass coverage the explosion got leading to predictions of price rises. It just gives them another excuse to put up bills no matter what happens to wholesale costs.