Submitted by Helicase21 t3_yfoeww in worldnews
Remarkable_Soil_6727 t1_iu5x4uz wrote
Still half the power generation is from gas, expect energy prices to get a lot higher in the winter and possibly even have blackouts.
memoriesofgreen t1_iu5yfng wrote
Why is that? I've not been listening to Putin so might be out of the loop.
Remarkable_Soil_6727 t1_iu5zdq2 wrote
Because gas is limited and countries that heavily relied on Russia for gas are now importing from sources the UK do like Norway (which provides 1/3rd of UK gas). The increased demand also had private companies extracting it in the UK and exporting it to Europe because they can sell it for more.
memoriesofgreen t1_iu67ktj wrote
Gas price is currently negative. That means there is plenty of supply.
https://www.ft.com/content/8c4f9b6f-7770-490e-83e8-3fdd12f7a99f
Remarkable_Soil_6727 t1_iu67x1m wrote
"It lasted for one hour only and a more standard spot price now around €50/MWh remains twice the norm for European gas."
Throbbing_Furry_Knot t1_iu668st wrote
Hopefully we get a mild winter and none of that happens. There is so much stored up gas in europe that can also be used by the UK, and so much LNG readied, as well as increased domestic production and storage in the UK now.
Remarkable_Soil_6727 t1_iu66z0t wrote
>domestic production and storage in the UK now
The UK has some of the lowest levels of gas storage in Europe at 9 days and again all these gas companies are privately owned and can sell to Europe at a higher price or force the UK to pay a lot more than if they were state owned.
Theres also no guarentee the rest of Europe will sell any of their stored gas to the UK or at least massively over charge them so most people wont be able to afford it.
Even if we have the gas to not cause a blackout the poorest people might be forced into one due to not being able to pay the bills.
totalbasterd t1_iu7lm0x wrote
the first two paragraphs of your message are largely completely untrue
Remarkable_Soil_6727 t1_iubf8c0 wrote
Are you going to correct me?
Remarkable_Soil_6727 t1_iu98d0v wrote
Go on then MR FACT CHECKER, how many days of gas storage does the UK have, and how many private vs public gas companies are there?
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