Long, cold winter ahead for Britain could keep gas prices soaring to record levels

© Provided by The Guardian Photograph: Leon Neal/Getty Images

The UK faces a greater than normal risk of cold winter weather this year, according to meteorologists, which threatens to ignite greater demand for gas and keep gas market prices sky-high until 2023.

Both meteorologists and energy market experts are predicting a grim season ahead for UK households, millions of which could lose their energy supplier as companies collapse under the pressure of rising gas prices.

Gas market prices in the UK have quadrupled in the past year due to strong global demand. The hikes were compounded by a string of outages in the electricity system, including a fire at one of the UK’s main power import cables, which has increased its reliance on gas power plants.

© Photograph: Leon Neal/Getty Images A disused storage tank at a former gasworks in Brighton. The UK’s storage of gas is significantly lower than that of its European neighbours.

The market’s “forward” prices indicate that fuel prices are likely to remain at record levels through the colder months, bringing a winter of discontent for hard-pressed families.

Early weather-pattern modelling by the US forecaster DTN points to a colder winter for the UK and northern Europe this year, with signals of a weakening of the polar vortex “which helps send Arctic air on the move”.

Although it is too soon for official forecasts, DTN said there was “certainly a greater than normal risk of a cold winter for the UK”, with February earmarked as “the coldest of the three winter months”.

Experts fear that a long, cold winter will expose the UK to gas shortages and severe market shocks because its gas storage levels are dwarfed by stores in neighbouring European countries.

Kim Fustier, an analyst at investment giant HSBC, warned that, with European gas stores at levels well below normal, a particularly cold winter could drive prices to new record highs. Gas prices were expected to remain at exceptionally high levels this winter, she said, and to stay high next summer before normalising in 2023.

“A colder-than-average winter could push storage levels to dangerously low levels, raising risks of price spikes and/or shortages in some countries,” she said. “The UK’s situation is more precarious than its European neighbours because of its very limited storage capacity.”

The UK has only enough gas storage to meet four to five days of winter gas demand, while neighbouring European countries typically have several weeks’ worth of gas.

The gas market has already brought factories in the north of England to a standstill, and derailed the carbon dioxide supply chain, which is vital to the food, drink and meat production industries.

The record gas price highs are expected to drive up energy bills for millions of households from October, with further price rises expected in April, which could drive a total of 1m additional households into fuel poverty by next summer.

Related: ‘Relying on luck’: why does the UK have such limited gas storage?

Consumer groups fear that the collapse of small suppliers struggling to keep up with the surging cost of gas could result in vulnerable households missing payments from the “warm home” discount scheme, which helps to make heating bills more affordable.

Gillian Cooper, the head of energy at Citizens Advice, said many of the poorest households were “facing an incredibly tough winter, with rising energy bills and the £20-a-week cut to universal credit”.

“For people whose suppliers have failed, it’s an especially worrying time,” she added. “Many people on low incomes risk losing their £140 warm home discount when they’re moved to a new supplier. Some customers in debt may see their agreed repayment plans torn up.”

Cooper called on the government and Ofgem to guarantee that no one lost access to “this vital financial support” when they were moved to a new supplier.

“And suppliers should ensure people in debt to failed companies have access to affordable repayment plans to stop them spiralling further,” she said.

Internet Explorer Channel Network
News Related


US Marshals boss probed for office sex made underlings do his ‘homework:' sources

A US Marshals official is accused of pawning off his post-graduate program homework to his subordinates. REUTERS/Brian Snyder A top US Marshals official currently under investigation for allegedly sleeping with ... Read more »

Maya Rudolph's Best Movies And TV Shows And How To Watch Them

When it comes to comedy legends who have blown up in the last twenty or so years, none cross my mind as much as Maya Rudolph. From her explosion into ... Read more »

Former Aston Villa ace Stan Collymore wades into Manchester United problems

Former Aston Villa and Liverpool star Stan Collymore doesn’t think Ole Gunnar Solskjaer has the credentials to dodge the sack at Manchester United. Solskjaer’s position at United has come under ... Read more »

‘I do not hold Alec Baldwin responsible': Father of slain cinematographer Halyna Hutchins blames armoury team

The father of slain cinematographer Halyna Hutchins said he does not hold Alec Baldwin accountable for the accidental death of his daughter. © Fred Hayes/Getty Images for SAGindie Halyna Hutchins ... Read more »

Those living in poverty hit harder by energy bills, Labour analysis shows

Those living in poverty are paying more on average for their gas and electricity than those who live more comfortably, Labour has said. © Steve Parsons Analysis from the party ... Read more »

How to Change Your Overwatch Name for Free

In honor of Cole Cassidy’s name reveal, Blizzard is allowing players to change their Overwatch usernames for a limited time. Blizzard Entertainment has finally revealed the new name for its ... Read more »

'Otoniel': Colombia captures its most-wanted drug lord

Colombia’s most-wanted drug lord has been captured by authorities in what has been heralded as the biggest blow to the country’s narcotics traffickers in decades. © Colombia Presidents Office Dairo ... Read more »

Soccer-Late goal saves point for Inter at home to Corinthians

© Reuters/DIEGO VARA Brasileiro Championship – Internacional v Corinthians PORTO ALEGRE, Brazil (Reuters) – Internacional scored a stoppage time equaliser to save a point at home to Corinthians in an ... Read more »

PL hits & misses: Rivals delight in Man Utd horrorshow, Kane struggles

© Getty Mohamed Salah celebrates as Liverpool thrash Manchester United Man Utd’s disastrous defending shows why they are not Premier League contenders A defensive horrorshow. That feels like an apt ... Read more »

£2.4bn ‘tax bombshell' to hit small and medium-sized businesses, say Lib Dems

The Liberal Democrats have accused the Government of creating a “tax bombshell” for small and medium-sized businesses by raising national insurance. © Aaron Chown Liberal Democrat MP Christine Jardine (Aaron ... Read more »

Barcelona release strong statement condemning 'violent' fan behaviour against Ronald Koeman

Barcelona have released a public statement condemning ‘violent’ and ‘disdainful’ acts from their own supporters towards manager Ronald Koeman following Sunday’s 2-1 defeat to Real Madrid. In the first El ... Read more »

4,000 troops are on standby to help the NHS cope this winter

© Provided by Daily Mail MailOnline logo Four thousand troops are on standby to aid the NHS deal with a winter crisis, the Defence Secretary said last night. Ben Wallace ... Read more »

Gigi Hadid's Cozy Fall Look Is Filled With Buzzy Pieces

© Vogue © Photo: Splash News Dressing practically for cold weather is a necessary evil. Cozy knitwear and even cozier scarves must become a part of the daily rotation. But ... Read more »

Jason Tartick Says His Upcoming Wedding to Fiancée Kaitlyn Bristowe Will Be Great Gatsby-Inspired

© Provided by People Craig Sjodin via Getty Jason Tartick and Kaitlyn Bristowe are planning to go back in time when they get married. While chatting with PEOPLE at the ... Read more »

UN-Klimachefin warnt eindringlich vor Scheitern von Weltklimakonferenz

© dpa/Monika Skolimowska Patricia Espinosa, UN-Klimachefin, aufgenommen beim Weltklimagipfel 2018 in Polen Quelle: dpa/Monika Skolimowska Die UN-Klimachefin Patricia Espinosa hat eine Woche vor Beginn der Weltklimakonferenz COP26 in Glasgow vor ... Read more »

Ex-Sonderbeauftragter der USA glaubt, Abzug hätte „viel schlimmer“ laufen können

© AP/Jose Luis Magana Zalmay Khalilzad, früherer US-Sonderbeauftragter für Afghanistan – Debatte „nicht wirklich auf der Grundlage der Realität und der Fakten“ geführt Quelle: AP/Jose Luis Magana Der chaotische Abzug ... Read more »

NSW treasurer Matt Kean says federal Nationals ‘can resign from the ministry' if they don't back net zero

Photograph: Dan Himbrechts/AAP The New South Wales treasurer, Matt Kean, says the Nationals will need to decide if they want to resign and “support a Labor government” if they don’t ... Read more »

NATO's flirtation with adding 2 more members runs the risk of starting a war the US can't afford to fight

© REUTERS/Pascal Rossignol US Defense Secretary Lloyd Austin and NATO Secretary General Jens Stoltenberg at a NATO Defense Ministers meeting in Brussels, October 21, 2021. REUTERS/Pascal Rossignol While in Europe ... Read more »

De Blasio turns to longtime ally as he tests waters ahead of governor's race

Mayor Bill de Blasio is not considered a “serious” contender in the 2022 New York governor’s race by at least one pollster and is in dead last according to another. ... Read more »

Warriors troll Klay Thompson with new jersey after NBA 75th anniversary list snub

Klay Thompson is No. 77, at least in the eyes of the Warriors. After Thompson was left off the 76-man NBA 75th anniversary team, some of his teammates gifted him ... Read more »

Verstappen felt unsure aggressive strategy could beat Hamilton for US GP win

© Glenn Dunbar / Motorsport Images Max Verstappen, Red Bull Racing RB16B Verstappen lost the lead from F1 title rival Lewis Hamilton at the start, but was able to get ... Read more »

2 die in Kashmir after vehicle gets stuck in the snow

© Provided by Hindustan Times Two others, whose vehicle was also stuck in the snow, were rescued from Sinthan Pass in south Kashmir’s Anantnag district. (HT Photo) Two people were ... Read more »

Bathinda man booked for fraudulently getting divorce to remarry

© Provided by Hindustan Times The police booked a Bathinda man booked for fraudulently getting divorce. The accused has also remarried. (HT Photo/ Representational image) The Division Number 5 police ... Read more »

Ludhiana: Illegally stored firecrackers seized, one arrested

© Provided by Hindustan Times The police arrested a grocer and seized illegally stored firecrackers from his shop at Ranjit Nagar in Ludhiana on Saturday. (HT File Photo/ Representational image) ... Read more »

Autumn budget 2021: what do we already know about Rishi Sunak's plans?

For all the traditional protestations by Rishi Sunak that he cannot talk about budget or spending measures before Wednesday, the Treasury has sent out more than a dozen announcements in ... Read more »

Labour calls for inquiry into MPs' safety be extended to councillors

Photograph: Rob Pinney/Getty Images Labour has written to the home secretary, Priti Patel, calling for an ongoing review into the safety of MPs after the killing of the Conservative backbencher ... Read more »

Rishi Sunak to announce almost £6bn to tackle England's record NHS waiting list

Photograph: Peter Byrne/PA Rishi Sunak is to announce almost £6bn to tackle England’s record NHS waiting list. The number of people waiting for hospital treatment has hit 5.7 million as ... Read more »

Human remains identified as United Airlines executive who went missing last year

Authorities have identified human remains discovered in Illinois last week to be Jake Cefolia, who was reported missing more than a year ago. The determination was made Sunday by the ... Read more »

Jason Sudeikis Brings Back His SNL Hall Of Fame Characters

This past weekend Saturday Night Live was more of a walk down memory lane as Jason Sudeikis reprised all his favourite roles from his time as a cast member! © Provided ... Read more »

‘Greta Thunberg would love it – Shell's CEO less so': Joe Lycett vs the Oil Giant review

© Provided by The Guardian Photograph: Isobel Frodsham/PA There are two kinds of greenwashing. The first involves corporations making us believe that their products are environmentally sustainable. It’s what Derren ... Read more »

Kristin Cavallari Reveals She And Jay Cutler Dated Again After Their Divorce

© Provided by CinemaBlend screenshot very cavallari This is Very Cavallari of Kristin Cavallari and Jay Cutler. The former Hills star and ex-NFL player had a second wind of prominence ... Read more »

'It's a good day, a really good good day' - Jurgen Klopp

© Alamy Stock Photo Liverpool manager Jurgen Klopp reacts after the final whistle. LIVERPOOL MANAGER Jurgen Klopp knows their 5-0 battering of 10-man Manchester United was one for the history ... Read more »

Gemma Chan and Richard Madden have chemistry at Eternals screening

© Provided by Daily Mail MailOnline logo They’ve known each other for a decade and played ‘immortal soulmates’ in the upcoming movie Eternals. And Gemma Chan and Richard Madden couldn’t ... Read more »

Florida surgeon general refuses mask in meeting with state senator, asked to leave

A senior doctor in Florida was asked to leave a meeting with a Democratic state senator after he declined to wear a mask due to the lawmaker having a medical ... Read more »

Facebook chose to keep Breitbart on News Tab and gave it special treatment - even after employees warned of its embellished and hyper-partisan coverage of events like the George Floyd protests

© Skye Gould/Insider Skye Gould/Insider Facebook decided to keep Breitbart news about the George Floyd protests on its News Tab feature, the WSJ reports. Facebook did not immediately respond to ... Read more »

Soccer-Ten-man PSG drop points in Marseille stalemate

MARSEILLE, France (Reuters) – Ligue 1 leaders Paris St Germain dropped two points as they were held to a 0-0 stalemate at bitter rivals Olympique de Marseille after playing more ... Read more »

Max Malins stakes England claim with seven tries in seven days for rampant Saracens

Max Malins sent a come and pick me message to Eddie Jones with four tries in a record-breaking display for rampant Saracens. Not content with scoring three at Bath he ... Read more »

Lewis Hamilton rues Red Bull's 'upper hand' as Max Verstappen lays down gauntlet at US GP

Lewis Hamilton admits Mercedes had one of their toughest races during the United States Grand Prix, as the seven-time world champion had to settle for a second-place finish in Austin, ... Read more »

Sky Sports reporter says 90/100 Man United fans would prefer 48 y/o PL manager over Solskjaer

Sky Sports reporter Michael Bridge believes 90% of fans would prefer to have Brendan Rodgers as Manchester United manager rather than Ole Gunnar Solskjaer. © GiveMeSport Man United manager Ole ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic