British gas reserves could run dry in 36 HOURS after freezing householders turn the heating up
By Peter Campbell and Matt Chorley
Running low: Britain’s gas reserves could run out in 36 hours ¿ leaving the country dependent on costly foreign imports.
Britain’s gas reserves could run out in 36 hours – leaving the country dependent on costly foreign imports.
The UK’s gas stores have less than two days’ supplies remaining after plunging temperatures forced millions of householders to turn up their heating.
And today there were warnings from energy giant SSE of the ‘very real risk’ of the lights going out in Britain.
With more snow forecast today and the unseasonable freeze to continue into next week, the UK could be left relying on expensive imports from Norway through an under-sea pipeline.
The shortfall is likely to push up the long-term price of gas and could result in household tariffs rising by up to 15 per cent before next winter, adding more than £200 on to family bills, analysts warned.
Gas stores were at their lowest levels for three years last night, sending UK gas prices soaring to near-record highs.
‘There is no other Western economy of our size that uses as much gas as we do but has so little storage,’ said energy analyst Peter Atherton at Liberum Capital.
Philosophers stone – selected views from the boat
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2013-03-22 08:33:24
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