Low forecast for winter gas prices

19 September 2007
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20 September 2007

Spot prices for gas are expected to remain low this winter because of improvements to supply security.

Gary Keane, senior manager GB markets at Ofgem, said the gas supply outlook is more positive than last year, with generation sufficient for severe weather.

This is largely due to recent investment in the Langeled pipeline, which brings gas to the UK from Norway, and this year's improvements to the Bacton pipeline, which brings gas from Holland. The completion of the Milford Haven liquefied natural gas terminal next January will allow the UK to receive gas from countries that have no pipeline.

Keane addressed a Utility Consumers' Consortium meeting on the Winter Outlook for 2007-08. The report, to be published at the end of this month, is based on a major consultation carried out ahead of each winter to assess the availability of gas and electricity for the coming months.

Ofgem is holding a consultation for gas buyers on 2 October in London. Call 020 7901 7000 for details.

SMsep2007

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