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UK 'at high risk' of price hikes - 03/06/2011

Domestic energy users in the UK are at "high risk" of encountering sudden price hikes this year, making Britain as vulnerable as Uganda because of its reliance on energy imports.

This is the key finding of risk-analysis firm Maplecroft, which noted that the UK lags behind its European counterparts in the take up of renewable energy.

According to the Telegraph, Maplecroft commented: "Although energy infrastructure is well maintained in the UK, high fuel prices at the pump and relatively high imports of both fossil fuels and electricity leave the UK vulnerable to disruption of their energy supply."

It added that Britain became a net importer of natural gas and oil in 2004 and 2005 respectively.

Meanwhile, two of the Big Six energy suppliers have warned of price hikes before the year is out.

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