Thursday, March 21, 2013

Gas price warning in U.K. as cold March leads to short supplies

"It appears the government is significantly underestimating the scale of the capacity crunch facing the UK in the next three years and there is a very real risk of the lights going out as a result."

Gas price warning as cold March leads to short supplies | Business | The Guardian:
The cold snap in March could lead to Britain's gas supplies running out next month, forcing the nation to pay higher prices for fuel from elsewhere. Forecasts suggest that gas supplies in the UK will be exhausted by 8 April, requiring Britain to turn to imports from Norway and Russia.
The warning came on the day Scottish and Southern Energy, one of the UK's biggest power suppliers, warned that there could be electricity blackouts in the country within three years.
A lack of gas storage facilities, and rapid depletion at the UK's North Sea gas fields, has led to the UK having as little as two days' supply of the fuel in reserve. Demand spiked during the coldest March in 50 years.
Tthe entire article can be read at The Guardian

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