Homeowners may compare energy rates as extra gas storage to be minimal - 05/10/2009

Consumers hoping to access cheap energy rates through the establishment of additional gas storage facilities in the UK may be disappointed that quantities will be minimal.

Britain has some of the smallest gas storage reserves in Europe and relies heavily on imported supplies that leave the country more exposed to price fluctuations, reports the Guardian.

Additional reserves are currently being built, but while existing facilities hold enough gas for just 16 days - compared to 73 and 91 day's worth in Germany and France respectively - the new reserves will hold just five hour's worth, according to energy minister Lord Hunt.

Jeremy Nicholson, from the Energy Intensive Users Group, told the paper: "[This figure] falls significantly short of the steep change we will need in the level of gas storage if we are to have secure energy supplies."

Lord Hunt said the UK has good access to a range of overseas sources, as well as having rich domestic supplies. He added that the quantity of additional reserves does not by itself reflect Britain's ability to meet demand.

The reliability of overseas energy suppliers was questioned earlier this year when Russia cut off the gas supply to Ukraine over a long-standing billing dispute.

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