Higher gas prices likely in short-term - 02/06/2011
Germany's announcement that it will shut down all its nuclear plants in the next decade could increase the price of UK domestic energy, market traders have warned.
Demand for cheap gas is likely to rise in the short-term in Germany and in other nations.
An unnamed energy trader told Reuters: "As more and more countries decide not to continue with nuclear power we will need more flexible gas plants to cover the intermittent renewables."
The trader added that more demand drives up prices and the UK has to compete for liquefied natural gas and pipeline gas.
Many householders could opt to compare energy prices and switch gas supplier if they find a better tariff.
Germany will leave its seven oldest reactors offline permanently, followed by the rest of its facilities.
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