Lack of UK gas storage could threaten cheap energy future - 16/02/2009
The lack of gas storage in the UK could threaten future cheap energy prices if it is not rectified soon, reports the Times.
Britain drew on gas supplies from a North Sea facility known as Rough during the recent sub-zero temperatures that swept the country, but this store is now at over 30 per cent capacity and the UK has had to supplement it with imports from the continent.
Increasing storage capacity would enable UK consumers to avoid the premiums that plague current gas prices and would provide more Britons with better access to cheap energy prices.
John Hall, an independent energy analyst, told the paper: "Compared with other European countries, the UK has hardly any storage at all. Whenever there is unusually cold weather, this becomes a problem."
Whereas France has gas storage capacity for nearly 100 days, the UK has enough for a maximum of two weeks, leaving Britons much more exposed to fluctuations in the wholesale market.
Energy supplier EDF announced last week that it is to reduce its electricity prices, which should alleviate pressure for many people.
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