Winter will hit the purses of Britons the hardest in Europe
UK energy bills will be among the heaviest in Europe this winter. Forecasts also indicate that the need for external supplies for the reliable operation of the system will grow. Power grid operators assured that there will be enough capacity and fuel even in the harshest cold. This is partly because London takes more resources than the markets around it.
UK energy bills will be among the heaviest in Europe this winter. Forecasts also indicate that the need for external supplies for the reliable operation of the system will grow. Power grid operators assured that there will be enough capacity and fuel even in the harshest cold. This is partly because London takes more resources than the markets around it.
National Gas, which manages the country’s gas networks, signed an agreement at the last minute with the owner of a large pipeline in Belgium. The company expects that this will help ensure the supply and prevent the planned reduction. Ofgem regulator approved the deal. As a result, the average gas payment will increase by about 10 pence. Without such a step, some networks could fail in a sharp cold snap.
National Gas expects marine LNG supplies to the country to increase by 5% compared to last winter. At the same time, exchange prices for gas increased 3 times compared to the level before the Middle East crisis and gas failures in the Persian Gulf countries.
For decades, the country relied on its own production in the North Sea. The forecast allowed a fall in production in winter by 6%. At the same time, authorities announced the discovery of the Jackdaw field in the same area. It could add more volumes next month.
The national grid operator expects electricity costs to rise in the cold. According to the National Statistical Service, for the year ended in August, the UK spent a record 4 billion euros on electricity, with half of this amount going to resources from France. Glenn Brin-Jakobsen of National Gas explained that the system is still supported by different sources and flexibility, but the combination of changes in supply and demand leads to a reduction in supply at peak and tense times.
In August, gas reserves in the EU before the winter were minimal for 13 years. The reasons include slowing supplies from Qatar, one of Europe’s biggest energy suppliers, and global heat. Due to the high temperature in the summer, a lot of energy was spent on cooling and air conditioning.
UK energy bills to soar to 1.5 year high
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