We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Gas Prices up 13% today.......

Flight3287462
Posts: 1,195 Forumite

Prices are still going nuts out their and if we have a cold winter this is just the start. Gas prices now the equivalent to $215 per barrel of oil!!!!!


1
Comments
-
This table puts the wholesale price rise into a more readable format for UK gas users. Look at the right hand column. A year ago today, the wholesale price was 1.104p/kWh. (Credit: Guy Lipman)
1 -
Thank goodness we have a government who are forward thinking and have given us plenty of gas storage facilities to ride out these peaks. Oh! sorry I am thinking of another country
https://www.theguardian.com/business/2021/sep/24/how-uk-energy-policies-have-left-britain-exposed-to-winter-gas-price-hikes
5 -
0
-
Keep_pedalling said:Thank goodness we have a government who are forward thinking and have given us plenty of gas storage facilities to ride out these peaks. Oh! sorry I am thinking of another country
https://www.theguardian.com/business/2021/sep/24/how-uk-energy-policies-have-left-britain-exposed-to-winter-gas-price-hikes
Sorry but it was British Gas that decided to shut it not ukgov. Somewhat poetic then that the cap is currently forcing then to supply gas at below cost.
0 -
http://ekomeri.com/centrica-close-uks-largest-gas-storage-facility/?ckattempt=1
So the decision was made by Centrica to close the storage facility in 2017 - with no plans since then to build additional storage.
According to the company, Rough gas storage facility is the largest in the UK, able to meet approximately 10% of the UK’s winter peak day demand and representing more than 70% of the UK’s current storage capacity
1 -
Bendo said:Keep_pedalling said:Thank goodness we have a government who are forward thinking and have given us plenty of gas storage facilities to ride out these peaks. Oh! sorry I am thinking of another country
https://www.theguardian.com/business/2021/sep/24/how-uk-energy-policies-have-left-britain-exposed-to-winter-gas-price-hikes
Sorry but it was British Gas that decided to shut it not ukgov. Somewhat poetic then that the cap is currently forcing then to supply gas at below cost.4 -
Bendo said:Keep_pedalling said:Thank goodness we have a government who are forward thinking and have given us plenty of gas storage facilities to ride out these peaks. Oh! sorry I am thinking of another country
https://www.theguardian.com/business/2021/sep/24/how-uk-energy-policies-have-left-britain-exposed-to-winter-gas-price-hikesandKeep_pedalling said:While that is technically correct, there is no way the government should have allowed it to happen. To lose 70% of our storage with the closure of a single plant is not something any other European government would allow to happen.It was a condition of Centrica being allowed to purchase Rough that they would operate it as a national asset, with limits being placed on Centrica's own use. In 2017 Centrica wrtote to the government and said, in effect, "the wells and platforms serving Rough are at the end of their safe operating life, if you want us to keep operating it we'll need £1bn to replace them". The gov't decided to let Centrica close the field instead.
N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 33MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!1 -
I must agree - this was a risky by our government - and one that we are now all going to be paying a VERY BIG price for.
Keep in mind, storage is only a temporary solution - say other European countries were able to store gas at cheaper prices back in July/August - but when that runs out, it makes no difference that they have the storage, said storage will need to be replenished at the going market price.
So yes, Europe may be in better shape than UK for the next few months - but there are other geopolitical issues that have caused the gas price to rocket.2 -
UK gas futures are up nearly 18% now.{Signature removed by Forum Team - if you are not sure why we have removed your signature please contact the Forum Team}0
-
What percentage of our gas comes from abroad?
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 349.8K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.8K Work, Benefits & Business
- 619.5K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards